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.

The SEC has agreed to pause its lawsuit against Binance, but experts are split on whether it means the end of the agency's crypto crackdown.

The joint motion by the regulator and the giant crypto bourse comes as the recently installed crypto task force lays foundations for a formal framework.

Joint motion is first clear effort to retreat from US regulator’s prior crypto enforcement under Democratic leadership.

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 parties say the SEC’s new task force on cryptocurrency regulations may ‘impact and facilitate the potential resolution of this case’.

U.S. District Judge Amy Berman Jackson granted the joint motion to stay the SEC’s lawsuit against Binance for 60 days. Both Binance and the SEC had submitted a joint filing to the court late on Monday requesting a hold on the lawsuit,

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.