The post XRP’s Meteoric Rise To $8 Brewing Amid Speculation SEC Could Halt Its Legal Dispute With Ripple ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.

Advertisement &nbsp &nbsp In an unusual moment of agreement, Binance — the world’s largest crypto exchange by market cap — and the U.S. Securities and Exchange Commission (SEC) have jointly requested the court for a temporary suspension of their legal scrabble. The motivation: Both parties anticipate a change in regulatory dynamics with the establishment of the SEC’s new crypto task force. This marks the first move toward halting major crypto litigation since Mark Uyeda took over from Gary Gensler as SEC chairman. Binance And SEC Seek An Early Resolution In Lawsuit On Feb. 10, the SEC, Binance, and its former CEO Changpeng Zhao (CZ) filed a joint motion to stay their case for 60 days. The motion notes that the creation of the new crypto task force under SEC Commissioner Hester Pierce (aka Crypto Mom) “may impact and facilitate the potential resolution of this case.” The filing is one of the big moves under the leadership of Acting SEC Chairman Mark Uyeda, indicating a potential shift in the regulatory approach to embrace crypto under President Donald Trump’s regime. Advertisement &nbsp “As this is a joint motion, there is no prejudice to any party here, and a stay could save the parties resources because, if an early resolution could be reached, it would obviate the need to continue merits discovery,” the parties postulated. The joint motion also indicated that at the end of the 60-day pause, the two parties intend to submit a joint status report on whether a continuation of the stay is warranted. The ongoing suit was lodged in June 2023. The SEC accused the leading exchange of breaking federal securities laws. The securities watchdog, under the helm of ex-chair Gensler, also initiated lawsuits against major crypto players, including Ripple, Coinbase, and Kraken, contending violations similar to the Binance…

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Filed under: News - @ February 12, 2025 3:12 am