The U.S. Securities and Exchange Commission (SEC) is scaling back its aggressive crypto enforcement, as seen in a recent court filing to resolve its case against Binance, the world’s largest crypto exchange.
In a joint motion, the SEC, Binance, and its founder Changpeng Zhao requested a 60-day pause, aiming to settle the lawsuit without further litigation. The SEC originally sued Binance in 2023, alleging violations of federal securities laws, while Coinbase faced similar accusations during former SEC Chair Gary Gensler’s crackdown on digital assets.
A newly launched Crypto Task Force, introduced by interim SEC Chair Mark Uyeda, may play a role in resolving the case, according to court documents.
The task force was formed on Jan. 21, a day after President Donald Trump’s inauguration, signaling a shift in Washington’s regulatory approach. SEC staffers have reportedly been instructed to reassess ongoing crypto lawsuits and deprioritize non-fraud cases.
As part of the internal reshuffle, top SEC crypto prosecutor Jorge Tenreiro was transferred to the agency’s IT department, further reinforcing expectations of a more crypto-friendly regulatory environment.
For years, industry giants like Binance and Coinbase have pushed for clearer regulations. With Gensler’s departure and Trump’s return, optimism is growing for pro-crypto policies. White House AI and crypto czar David Sacks confirmed Trump’s administration is focused on “common sense” investor protections and blockchain adoption.
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