A federal judge in Washington, D.C., has paused the U.S. Securities and Exchange Commission's (SEC) civil lawsuit against Binance, the world's leading cryptocurrency exchange, for 60 days. The decision was made on Thursday following a joint request from the SEC and Binance.

A federal judge in Washington, D.C., on Thursday put the U.S. Securities and Exchange Commission's civil lawsuit against Binance on hold for 60 days, granting a joint request by the regulator and the world's largest cryptocurrency exchange.

There has been a lot of debate the past few months about what the SEC would do with its ongoing crypto litigation and now we have the answer,” said Am Law 10 firm partner Ladan Stewart.

The SEC and Binance have filed a joint motion to pause their legal case for 60 days, citing the work of the new SEC Crypto Task Force.

Crypto exchange Binance and the SEC filed a joint motion to hit pause on their lawsuit, saying shifting sentiment could change the outcome.

The SEC said the work of a new crypto task force that's supposed to improve ties to the crypto industry 'may impact and facilitate the potential resolution of this case.'