The SEC said the work of a new crypto task force that's supposed to improve ties to the crypto industry "may impact and facilitate the potential resolution of this case."

The SEC- Binance [BNB] legal proceedings will be briefly paused for sixty days. This would allow the parties to wait for an update from the recently constituted Crypto Task Force. According to a filed joint motion dated on the 10th of February, the stay could be extended based on the outcome of the Task Force report. Part of the filing read,

The U.S. Securities and Exchange Commission is seeking to pause its high-profile lawsuit against the cryptocurrency exchange Binance as the regulator tries to present itself as more crypto-friendly.

U.S. District Judge Amy Berman Jackson granted the joint motion to stay the SEC’s lawsuit against Binance for 60 days. Both Binance and the SEC had submitted a joint filing to the court late on Monday requesting a hold on the lawsuit,

A federal judge in Washington, D.C., has paused the U.S. Securities and Exchange Commission's (SEC) civil lawsuit against Binance, the world's leading cryptocurrency exchange, for 60 days. The decision was made on Thursday following a joint request from the SEC and Binance.