Binance and the SEC jointly filed a motion with the court to pause the lawsuit for 60 days due to the SEC's cryptocurrency working group potentially intervening in the case

ChainCatcher news, according to Fox Business reporter Eleanor Terrett, Binance and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion with the court to request a 60-day pause in the lawsuit. This is the first cryptocurrency-related lawsuit pause request since Mark Uyeda took over as acting chair.

Both parties stated that the SEC's newly formed cryptocurrency working group may have an impact on the case and facilitate a resolution. After the 60-day period, both parties will submit a joint status report to assess whether a further pause is necessary. Terrett expects that other non-fraud cases such as Ripple, Coinbase, and Kraken may take similar actions.