The Washington District Judge approved a joint proposal filed by the US SEC and Binens to continue legal proceedings.
According to court records, American judge Amy Burman Jackson of Columbia district Accepted 60-day stay requests presented by SEC, Benance and its former CEO, Changpeng Jhao.
A citizen of the 2023 SEC alleged that Benance has violated the laws of federal securities by acting as an unregistered broker. At the same time, the Department of Justice accused the company of violation of the Bank Security Act.
Zhao and Benance solved the DOJ case with a record $ 4.3 billion fine. As part of the agreement, Zhao served four months in the federal jail.
The SEC and Benance requested the court to stop legal proceedings, citing changes in the securities regulator. According to the joint proposal, both sides can resolve the dispute through SEC’s new established Crypto Task Force.
Soon after President Donald Trump took over, Acting SEC President Mark Uyda formed the task force, appointing a crypto-friendly commissioner Hester Peerus to lead the initiative.
“The journey now begins,” Pairus wrote that he played the role of his leadership. He also said that meme coins and most crypto tokens come out of the jurisdiction of SEC.
Regulatory changes under President Trump have redirected the federal watchdog towards neutral monitoring. Agencies like SEC are now focusing on clear digital asset regulations, a change that can accelerate the adoption of crypto.
