The US Securities and Exchange Commission (SEC) and Binance have jointly filed a motion requesting a 60-day pause in their ongoing legal case. This motion, submitted on February 10, marks a significant step in major cryptocurrency litigation, particularly since Mark Uyeda became the acting SEC chair. The pause is intended to allow the SEC’s newly launched Crypto Task Force, led by Commissioner Hester Peirce, to potentially facilitate a resolution. After the 60-day period, both parties plan to issue a report on the necessity of continuing the stay. The joint motion emphasizes that there is no prejudice to any party and could conserve resources by avoiding the need for prolonged litigation. Binance expressed gratitude to Chairman Uyeda for his regulatory approach toward digital assets. This motion represents the first such request for a halt in crypto litigation since January 20, with expectations that other companies like Ripple and Coinbase may also file similar motions as the regulatory landscape evolves. Peirce has highlighted the importance of addressing the legal complexities surrounding cryptocurrencies, prompting patience and cooperation among stakeholders during this process.

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