Odaily Planet Daily News: Former SEC official John Reed Stark believes that the SEC's lawsuit against Coinbase may be stillborn as the regulator's newly established cryptocurrency working group seeks to resolve previous enforcement actions against the exchange.
Stark explained in a post on X on February 17th why the SEC is requesting a 28 day extension to respond to Coinbase's petition for permission to appeal. According to the unprecedented 3-page joint motion, the SEC's review of cryptocurrency related issues is' ongoing ', and the extension will give the SEC time to conduct a' proper review 'as it prepares its response to the Coinbase petition. In other words, the SEC's lawsuit against Coinbase may have ended
Stark estimates that the SEC's lawsuit against Binance will also have the same outcome. He cited a joint motion submitted on February 11th, in which both parties believe that the SEC's cryptocurrency task force "may affect and facilitate the potential resolution of this case.
Ripple is no exception. Since 2020, the company has been deeply embroiled in lawsuits with the SEC, and "it is expected that all appeals related to cryptocurrency, including appeals in the Ripple case, will be suspended and even more likely to be completely withdrawn
