Binance’s legal battle took a new turn today as both the company and the U.S. Securities and Exchange Commission (SEC) filed a joint motion to pause their case for two months. In a similar development, the SEC and Texas-based cryptocurrency company Lejilex have requested a delay in their upcoming oral arguments, originally set for February 20.
They have also asked for any decisions on motions to be postponed until April 11. The parties mention that the change in leadership at the SEC and the work of the crypto task force could help resolve the case.
🚨NEW: @LEJILEX and the @SECGov have filed a motion in a Texas court to hold off on oral arguments set for February 20th and delay any decisions regarding motions until April 11, 2025.
Like in the @binance case, the parties cite a change in leadership at the @SECGov and the work… pic.twitter.com/IdCGF1vuwK
— Eleanor Terrett (@EleanorTerrett) February 11, 2025
Lejilex filed a complaint against the SEC in February 2024. They argue that the SEC is wrongly claiming authority over most digital asset transactions in Texas and the U.S. The case was filed as Lejilex prepared to launch a new trading platform, seeking confirmation that transactions on the platform don’t need SEC registration. They hope to stop SEC rules they believe are hurting legitimate U.S. businesses.
“The SEC’s rogue enforcement actions targeting our industry have paralyzed those of us who just want to build lawful businesses and technologies. Fear of rogue enforcement should not be a thing entrepreneurs are forced to experience,” the firm had said previously.
They added, “We hope our action encourages the SEC to reconsider its regulatory approach, and we welcome them to work with us and our industry to ensure the most important technologies of the future are built here in America, under American laws, consistent with American values.”
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