The U.S. Securities and Exchange Commission (SEC) and Binance have jointly requested a 60-day pause in their ongoing legal battle, marking the first major cryptocurrency case put on hold since Mark Uyeda assumed the role of acting SEC chair.

The motion, filed on February 10, highlights the recent establishment of the SEC’s Crypto Task Force, suggesting that its work could influence the resolution of the case. “The work of this task force may impact and facilitate the potential resolution of this case,” both parties stated in the filing.

This move could set a precedent for other crypto firms entangled in legal disputes with the SEC, including Ripple, Coinbase, and Kraken, potentially leading them to file similar motions. According to FOX Business journalist Eleanor Terrett, this is the first instance of a crypto-related lawsuit being paused under Uyeda's leadership.

The SEC and Binance also agreed to issue a joint report after 60 days to determine whether an extension of the pause is necessary. “This stay could save resources for both parties and avoid unnecessary discovery efforts if an early resolution is reached,” the motion argued.

Binance expressed its support for the new SEC leadership, stating, “We appreciate interim Chairman Uyeda’s efforts to ensure digital assets receive the proper legislative and regulatory focus in this new era of blockchain.”

Uyeda's first major action was launching the SEC Crypto Task Force on January 21, led by SEC Commissioner Hester Peirce—known in the crypto community as "Crypto Mom." Peirce has long criticized the SEC’s ambiguous approach to crypto regulation, describing it as “legally imprecise and commercially impractical.”

With crypto firms watching closely, this legal pause could signal a shift toward clearer regulatory frameworks in the U.S. Will other firms follow Binance’s lead? The next 60 days could be pivotal.