In a rare moment of agreement, global crypto exchange Binance and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion to pause their ongoing legal battle for 60 days. The catalyst: Both sides anticipate a shift in regulatory dynamics with the launch of the SEC’s new crypto task force.
Filed on February 10, the joint motions seek a temporary halt to the high-profile litigation involving serious allegations of securities violations.
The motion cites that the establishment of the new crypto task force under SEC Commissioner Hester Peirce may “impact and facilitate the potential resolution of this case.”
If the pause gets approved, there’s a chance other crypto exchanges Ripple and Coinbase might take a similar tactic to deal with their own legal challenges against the SEC.
The joint motion is one of the significant moves under the leadership of Acting SEC Chair Mark Uyeda, pointing to a potential shift in the regulatory approach to embrace crypto under President Donald Trump's administration.
If granted, the pause would delay key motions, includi...
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