The two will take a break for two months amid changes in the US approach to cryptocurrency
The US Securities and Exchange Commission (SEC) and Binance have agreed to pause their ongoing legal battle for 60 days, marking a shift in the regulatory approach to cryptocurrency cases. The joint motion, filed yesterday, signals a potential resolution process as the SEC’s newly established Crypto Task Force begins shaping its policies.
Both parties cited the task force’s role in the decision, suggesting that its findings could influence the direction of the case. This pause comes as Mark Uyeda, the acting SEC chair, takes a fresh approach to regulating the digital asset industry. The SEC and Binance stated in the filing that temporarily halting the case could help facilitate a resolution while conserving legal resources.
This is the first instance of a crypto-related lawsuit being paused under Uyeda’s leadership, and industry analysts expect similar developments with other companies facing SEC litigation, including Ripple, Coinbase, and Kraken. The SEC and Binance plan to reassess the case after the 60-day period and determine whether an extension is necessary.
A Binance spokesperson expressed appreciation for Uyeda’s approach, emphasizing the need for clear regulatory guidance in the evolving blockchain space. The SEC’s new Crypto Task Force, launched on January 21, is led by Commissioner Hester Peirce, who has long advocated for balanced cryptocurrency regulations. Peirce has previously criticized the SEC’s handling of crypto enforcement, calling for more practical and precise legal frameworks.
With this pause, there is renewed hope that regulatory clarity could emerge for the broader cryptocurrency industry. While the SEC’s stance on enforcement remains firm, the shift toward structured policymaking may bring much-needed direction for market participants navigating the regulatory landscape.
