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Late Friday, attorneys with the U.S. Securities and Exchange Commission and Binance filed a joint standing report asking a federal decide to proceed a 60-day pause within the case for one more 60 days.
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Who’s left?
The narrative
We heard about two extra Securities and Exchange Commission (SEC) instances this week. The first, Binance and the SEC, was final paused in February, although late Friday attorneys requested for one more extension to proceed discussing issues. Separately, Nova Labs settled allegations with the regulator.
Why it issues
As we proceed to look at the SEC develop its new views on digital asset points, the way it treats its lively litigation stays a key sign.
Breaking it down
On Friday, attorneys with the SEC and Binance (in addition to Binance founder Changpeng Zhao, Binance.US and different events) filed a joint motion asking the federal decide overseeing the case to increase a pause initially set to run out Monday by one other 60 days.
Originally, the SEC stated it was requesting the pause to see how the company’s new crypto process drive would possibly handle digital belongings and the applying of securities legal guidelines. Friday’s submitting echoed this argument, saying the duty drive’s work “may impact” its claims within the ongoing litigation. The unique pause was set to finish on April 14.
The SEC additionally filed a motion for a consent judgement after apparently coming to a settlement settlement with Nova Labs, the corporate behind Helium. According to the proposal, Nova Labs would pay $200,000 however wouldn’t admit to or deny the allegations.
The SEC first sued Nova Labs in January 2025 — specifically, Jan. 17, 2025, three days earlier than Donald Trump was sworn into workplace because the forty seventh U.S. President.
I think about there are extra instances or investigations being resolved than CoinDesk has caught — when you’ve obtained a Wells Notice and that is now been resolved, please hit us up, we’re very curious. You can reply to this e mail or attain out on Telegram and Signal.
Stories you will have missed
DOJ Axes Crypto Unit as Trump’s Regulatory Pullback Continues: The Departmetn of Justice disbanded its National Cryptocurrency Enforcement Team and ordered prosecutors to not deliver a case the place it might discover itself adjudicating what a safety or commodity is within the digital belongings sector. More on this subsequent week.
Inside North Korea’s Favorite Crypto Laundering Tool: THORChain: THORChain and wallets constructed on the community have develop into more and more favored by North Korean hackers trying to transfer funds stolen from different crypto tasks. The community’s operators have refused to dam transactions tied to the Bybit theft from February.
SEC Approves Trading of Ether ETF Options: The SEC has not but authorized any new exchange-traded merchandise for tokens like Solana or Litecoin ETFs nevertheless it did green-light ether ETF choices buying and selling this week.
New SEC Staff Statement Urges Detailed Crypto Token Disclosures: The newest SEC workers assertion, which got here out a day earlier than its second roundtable dialogue, targeted on the main points it is noticed in disclosures from crypto firms launching registered safety merchandise.
Atkins Confirmed by U.S. Senate to Take Over SEC Formerly Run by Gensler: Speaking of the SEC, the Senate confirmed Trump’s nominee for chair Paul Atkins, although he hadn’t been sworn in by 1:00 p.m. ET Friday.
Former Ethereum Developer Virgil Griffith Leaves Prison, Seeks Pardon: Virgil Griffith, an Ethereum developer who pleaded responsible to violating sanctions regulation and was sentenced to 56 months in jail, has been launched to a midway home and is now in search of a pardon, one among his attorneys stated.
President Trump Signs Resolution Erasing IRS Crypto Rule Targeting DeFi: U.S. President Donald Trump signed the joint House and Senate decision overturning the IRS’ DeFi dealer rule below the Congressional Review Act, that means the IRS can by no means deliver the same rule forth once more. This is the primary crypto-specific, Congressionally-passed merchandise Trump has signed since taking workplace, marking a milestone for the crypto business.
1 In 5 Cross-Chain Crypto Investigations Involve More Than 10 Blockchains, Elliptic Finds: Blockchain analytics agency Elliptic stated 20% of its investigations into funds despatched throughout a number of chains now contain not less than 10 completely different networks.
Ripple and SEC File Joint Motion to Pause Appeals: Ripple and the SEC have filed a joint movement to pause their ongoing appeals, following on from last month’s announcement that the events got here to an settlement to resolve the case totally.
Block Agrees to $40M Settlement With New York Over Faulty Money-Laundering Controls: Block and the New York Attorney General’s workplace settled allegations that Block didn’t have a completely functioning anti-money laundering course of for its Cash App.
Judge Rules Against Most of DCG’s Motion to Dismiss NYAG’s Civil Securities Fraud Suit: A New York state decide tossed out two of the New York Attorney General’s claims in opposition to Digital Currency Group and its executives however allowed a lot of the case to proceed in a late Friday ruling.
This week
Wednesday
14:00 UTC (10:00 a.m. ET) The House Financial Services Committee held a hearing to discuss issues forward of an anticipated market construction invoice addressing crypto.
18:00 UTC (2:00 p.m. ET) The House Agriculture Committee additionally held a listening to on related matters.
Thursday
14:00 UTC (10:00 a.m. ET) The Senate Banking Committee held a affirmation listening to on a raft of nominees, together with Federal Reserve Vice Chair for Supervision nominee Michelle Bowman. While she obtained a couple of questions on reviewing the regulatory response to Silicon Valley Bank’s collapse, there was not something substantive round crypto through the listening to.
14:30 UTC (10:30 a.m. ET) The court docket overseeing the Department of Justice’s case in opposition to Do Kwon held a standing convention listening to, the place his trial was rescheduled to February 2026. Prosecutors stated the DOJ memo from earlier this week would have no bearing on the case.
Friday
17:00 UTC (1:00 p.m. ET) The U.S. Securities and Exchange Commission held its second crypto roundtable, this time on buying and selling guidelines. Acting SEC Chair Mark Uyeda, in recorded remarks, suggested that the company might have a look at an interim regulatory framework for firms till it has extra everlasting guidelines in place.
Elsewhere:
(CNN) On Monday, pseudonymous X (previously Twitter) accounts posted a few “90-day pause in tariffs” that despatched markets hovering, earlier than the White House denied the declare, which can have been primarily based on a misinterpretation of White House official Kevin Hassett’s response to a query throughout a Fox News interview.
(CNN) On Wednesday, U.S. President Donald Trump did announce a 90-day pause within the greater tariff charges in opposition to most nations, leaving in place the ten% tariff fee he first introduced final week. Tariff charges on China went as much as 125% (later clarified to 145%).
(CNBC) The U.S. inventory market had a “historically wild week” with swings up and down as merchants reacted to the potential results new U.S. tariffs may need on international commerce.
(Reuters) Aircraft elements producer Howmet Aerospace, primarily based in Pittsburgh, warned clients that U.S. tariffs would possibly trigger it to halt some shipments.
(Bloomberg) Website homeowners stated Google’s new AI-generated solutions characteristic has cratered visitors to their web sites, although Google is denying this.
If you’ve obtained ideas or questions on what I ought to focus on subsequent week or every other suggestions you’d wish to share, be happy to e mail me at nik@coindesk.com or discover me on Bluesky @nikhileshde.bsky.social.
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See ya’ll subsequent week!
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