SEC and Binance seek two-month pause in crypto case
SEC and Binance file 60-day pause motion amid new crypto task force launch.
The US Securities and Exchange Commission and Binance have jointly filed a motion to pause their legal case for 60 days, signaling a shift in the regulatory landscape as the crypto industry braces for new oversight.
The move, announced on February 10, comes as the SEC launches its new Crypto Task Force under acting chair Mark Uyeda, aiming to bring clarity to digital asset regulations, reports Cointelegraph.
Legal Pause to Facilitate Resolution
In the joint motion, both the SEC and Binance stated that a temporary 60-day stay in litigation would allow the agency’s Crypto Task Force to potentially influence a resolution. “The work of this task force may impact and facilitate the potential resolution of this case,” the motion read, underscoring that the pause is intended to save resources by avoiding prolonged merits discovery if an early settlement can be reached. Industry observers anticipate that other crypto firms such as Ripple, Coinbase, and Kraken may follow suit with similar motions, reflecting a broader industry trend toward resolving regulatory disputes amid evolving oversight.
New Regulatory Framework and Market Implications
The establishment of the SEC Crypto Task Force—launched on January 21 and led by Commissioner Hester Peirce (nicknamed “Crypto Mom”)—marks the first major regulatory action under acting chair Mark Uyeda. Peirce highlighted that the SEC’s previous handling of crypto cases had been marred by “legal imprecision and commercial impracticality,” noting that many rules remain in the proposal stage while numerous cases linger in litigation. “Determining how best to disentangle all these strands will take time,” she said on February 4, urging market participants to be patient as the agency works in coordination with other regulators.
As the industry watches closely, this 60-day pause could pave the way for more systematic resolutions in crypto litigation and influence future regulatory policies. With additional motions expected from other major players, the pause may herald a new era of more efficient and transparent crypto regulation in the United States.
Recently we wrote, that Binance, the world’s largest cryptocurrency exchange, and its founder Changpeng "CZ" Zhao have filed a motion to dismiss the lawsuit brought against them by the U.S. Securities and Exchange Commission (SEC).
