A federal judge has granted a joint request by the SEC and Binance to put the SEC's civil lawsuit on hold for 60 days.
The SEC and Binance proposed the stay, indicating that the work of a crypto taskforce formed by the SEC might impact and facilitate the potential resolution of the case.
The SEC filed 13 charges against Binance in June 2023, alleging securities law violations including operating as unregistered exchanges, making unregistered offers and sales of crypto assets, and misleading investors.
The SEC's crypto taskforce aims to develop a federal regulatory framework governing digital assets, protecting investors from scams while providing clarity for crypto businesses.