Binance and the SEC have filed a joint motion requesting a 60-day stay on the lawsuit against the crypto exchange, trying to align with a newly launched task force focused on crypto regulations. This marks a significant retreat from the SEC's previous enforcement actions under Democratic leadership. The joint motion suggests a potential pivot towards a more accommodative regulatory environment under Republican leadership, which aligns with the intent to make the U.S. a global hub for cryptocurrency, contrasting with the SEC's more stringent past approach.
In a joint motion filed late on Monday, Binance and SEC requested a 60-day stay of the lawsuit, citing the potential impact of a task force on crypto regulations.
The motion marks a pivot towards a more crypto-friendly approach under the SEC's new Republican leadership, reflecting a commitment to creating a global hub for the industry.
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