SEC and Binance Request 60-Day Pause in Legal Battle as Regulatory Shift Emerges

The joint motion highlights the potential impact of a new crypto task force launched under the Trump administration's crypto-friendly policies.

The U.S. SEC and Binance filed a joint motion seeking a 60-day pause in their ongoing lawsuit, citing the potential influence of a newly launched crypto task force.
The SEC's new task force, led by Acting Chairman Mark Uyeda, aims to create clearer regulatory guidelines for cryptocurrencies and foster better industry relations.
This marks a significant shift from the SEC's previous enforcement-heavy approach under former Chair Gary Gensler, who aggressively targeted crypto firms like Binance and Coinbase.
The lawsuit against Binance, initiated in 2023, accused the exchange and its founder Changpeng Zhao of securities violations, misleading investors, and failing to prevent money laundering.
The Trump administration has signaled strong support for the crypto industry, with initiatives like the task force and potential leadership changes at the SEC expected to reshape U.S. crypto regulation.