The SEC and lawyers request the federal court to suspend the hearing of the CEX case for another 60 days.

GateUser-6433627c · 2025-04-12T02:47:51+00:00

The U.S. Securities and Exchange Commission (SEC) has requested a federal court to postpone the lawsuit against CEX for another 60 days in order to wait for the newly established Crypto Assets working group to draft clearer guidelines. Lawyers believe that more time is needed to assess the working group’s impact on SEC’s claims, thus requesting an extension of the stay. The SEC's pause is considered to be in line with judicial economic interests.

GateUser-6433627c

2025-04-12 02:47:51

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On April 12, Coindesk reported that SEC and CEX lawyers asked the federal court to postpone the SEC and CEX lawsuit for another 60 days. It is reported that the SEC (SEC) sued CEX in 2023 for violating federal securities laws. In February, after U.S. President Donald Trump was re-elected and Commissioner Mark Uyeda (Mark Uyeda) was appointed acting chairman, the SEC asked for a 60-day moratorium on the case, which expires next Monday. The SEC explained that they have formed a newly formed cryptocurrency task force to draft clearer guidelines on how securities laws apply to digital assets. In Friday’s filing, lawyers involved in the case said they asked for another 60-day suspension as a result, given “how the efforts of the crypto task force might affect the SEC’s claims.” “In light of these ongoing discussions and the time required for staff to seek committee authorization to approve any settlement or change the scope of this litigation if necessary, the SEC requires defendants to agree to extend the current suspension period for 60 days, and it is appropriate and in the interest of the judicial economy for defendants to agree to continue the stay,” the filing said.

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