The US Securities and Exchange Commission (SEC) has filed a motion requesting an extension to respond to a motion to dismiss in a crypto enforcement case involving Cumberland DRW. The agency cited its newly established crypto task force as a factor that could influence its legal strategy moving forward. The SEC sought to push back the response deadline from February 19 to March 21, 2025, with a judge granting a 30-day delay but warning against further extensions. The SEC has alleged that Cumberland sold approximately $2 billion in cryptocurrency without being registered as a dealer. There is speculation that the SEC's enforcement focus on cryptocurrencies may be shifting, potentially leading to a reevaluation of ongoing major actions against companies like Binance, Coinbase, and Ripple Labs. Legal experts suggest that if the SEC classifies most cryptocurrencies as non-securities, it could terminate many ongoing cases altogether. The recent adjustments in the SEC’s approach may also affect other related criminal cases as they navigate changes in proposed crypto regulations.

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