SEC and Binance Negotiate Extended Deadline in Ongoing Lawsuit

The legal battle between the U.S. Securities and Exchange Commission (SEC) and cryptocurrency exchange Binance has been extended, as both parties aim to achieve a constructive outcome. Recent developments show the SEC initiated the lawsuit against Binance in 2023, accusing the exchange of operating illegally and violating federal securities regulations. The SEC alleges that Binance’s U.S. branch and its executives acted as unregistered brokers and exchanges, while also claiming improper asset handling and manipulation on the BinanceUS platform.