Binance and the U.S. Securities and Exchange Commission (SEC) have jointly requested a 60-day pause in their legal proceedings, marking a significant development in the ongoing lawsuit. The motion, filed on February 10, 2025, with the U.S. District Court for the District of Columbia, cites the SEC's newly established crypto task force as a key factor. Both parties believe that the task force's work, initiated by Acting Chairman Mark Uyeda and led by Commissioner Hester Peirce, could influence the potential resolution of the case.

The SEC's crypto task force aims to shift from enforcement-led regulation to proactive policy-making, with the goal of providing regulatory clarity and encouraging the development of proactive guidelines. The pause is intended to conserve resources and explore opportunities for an early resolution, potentially eliminating the need to address Binance's pending motions to dismiss the amended complaint. After the 60-day period, both parties will submit a joint status report to assess whether a further pause is necessary.

Eleanor Terrett, a FOX Business journalist, suggests this move could pave the way for similar actions in other non-fraud crypto cases involving companies like Ripple, Coinbase, and Kraken. This development signals a possible shift in the SEC's approach to cryptocurrency regulation under its new leadership