TechFlow reported on February 19 that former U.S. Securities and Exchange Commission (SEC) official John Reed Stark stated the SEC may be seeking to terminate multiple enforcement actions, including those against cryptocurrency exchange Coinbase. Stark noted that the SEC's request for a 28-day extension to respond to Coinbase's appeal petition is due to its newly established cryptocurrency task force currently reviewing the matters.
Stark further pointed out that the SEC's lawsuit against Binance could also face a similar outcome. He referenced a joint motion filed on February 11 indicating that the SEC's cryptocurrency special task force might facilitate a potential resolution of the case.
In addition, the Ripple case, which has been in ongoing litigation with the SEC since 2020, along with all other cryptocurrency-related appeals, is expected to be paused or possibly entirely withdrawn.
