The post Binance and Coinbase Cases Paused, Ex-SEC Official Says ‘Ripple Lawsuit Next’ appeared first on Coinpedia Fintech News
The U.S. Securities and Exchange Commission (SEC) is facing a shift in its enforcement of cryptocurrency regulations. Recently, both Coinbase and Binance had their legal battles with the SEC temporarily paused. With Ripple possibly following suit, many are questioning whether the SEC’s crypto-enforcement program is coming to an end.
Former SEC chief John Reed Stark took to social media and stated that the SEC’s crypto-enforcement program is essentially falling apart. The SEC’s “Crypto Assets and Cyber Unit” has been secretly rebranded as the “Cyber and Emerging Technologies Unit.” Despite previous court rulings that digital assets are securities, those decisions don’t matter right now. Whether the SEC’s leadership calls it a “pause” for cases like Binance, Coinbase, or soon Ripple, the crypto-enforcement program is effectively over.
Coinbase Case Paused
A major development in Coinbase’s ongoing legal battle with the SEC occurred when a U.S. court granted a pause in proceedings. This decision allows Coinbase to file an interlocutory appeal, which seeks clarity on whether existing securities laws apply to digital assets traded on the platform. Originally, the SEC was expected to respond by February 14, 2025, but the agency requested an additional 28 days to review the matter.
Binance Case on Hold
In a similar move, the SEC and Binance filed a joint request to pause their ongoing legal case for two months. The reason for the pause is to give the SEC time to reassess its approach to regulating digital assets. The creation of the SEC’s Crypto Task Force is expected to lead to a new regulatory framework, possibly influencing the outcome of the Binance case.
Ripple’s Legal Future in Question
As the SEC shifts its focus with the pause in the Binance and Coinbase cases, attention turns to Ripple. Many believe that Ripple’s legal battle with the SEC will follow the same path. Some industry experts like Stark predict that the SEC will request a pause in the Ripple case soon.