A leading U.S. crypto exchange has filed a joint request with the Securities and Exchange Commission (SEC) for a 60-day extension in their ongoing case related to the Earn program.
The request, submitted to the U.S. District Court for the Southern District of New York, aims to give both parties more time to explore potential settlement options.
The SEC initially filed the lawsuit in January 2023, alleging that the exchange's Earn product involved the sale of unregistered securities. However, last month, the company’s co-founder announced that the SEC had closed its investigation and no enforcement action would be taken.
As the SEC’s approach toward crypto softens under the Trump administration, several cases including those involving Coinbase and Immutable have also been dropped.
The exchange recently settled a separate case with the Commodity Futures Trading Commission (CFTC) by paying a $5 million fine. It is also preparing for a potential IPO later this year and has appointed a new CFO to strengthen its financial operations.
