work of the Crypto Task Force
A central point of the application is the SEC's newly established Crypto Task Force, which was launched on January 21. Led by Commissioner Hester Peirce, the task force is intended to create a transparent regulatory framework for digital assets. This initiative represents a clear change of direction, away from the previously strict enforcement policy under the Joe Biden administration.
After the pause, Binance and the SEC intend to submit a joint status report to assess the way forward. This temporary pause is intended to ensure that no party is disadvantaged while netherlands phone number list also saving resources by potentially avoiding further investigative steps. Experts observe that this development could potentially set a precedent for other crypto companies such as Ripple and Coinbase that are also facing legal challenges.
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context of the legal disputes
The current situation follows a ruling by the US Supreme Court that rejected an appeal by Binance and its founder CZ, allowing a class action lawsuit against the company to proceed. This decision strengthens the application of US securities laws to Binance, even though the company has no physical headquarters in the country. Investors who transact through US servers are therefore subject to these regulations.