SEC and Binance jointly apply for a 60-day suspension of litigation, or are affected by the new crypto regulatory task force

PANews February 11th news, according to Fox Business reporter Eleanor Terrett, the U.S. Securities and Exchange Commission and Binance have jointly filed a motion to the court to suspend the SEC's lawsuit against Binance for 60 days. The move is the first pending request for a cryptocurrency lawsuit since Mark Uyeda took over as acting chairman of the SEC.

The documents show that the SEC's new crypto regulatory task force could affect potential solutions to the case, so the SEC filed a brief suspension of litigation, which Binance agreed to and believed was in line with the principles of judicial economics. If approved by the court, the case will be re-evaluated 60 days later.

The market expects that other crypto companies such as Ripple, Coinbase, and Kraken that have legal disputes with the SEC may also seek similar litigation suspension applications.