Cryptocurrency exchange Binance and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion to suspend legal proceedings for 60 days. The request comes amid the SEC’s formation of a dedicated task force on digital assets and the potential for legislative reforms.

According to the filing, the task force’s work could impact the case and help facilitate its resolution. After the 60-day period, both parties will submit a joint report and determine whether an extension is necessary.

“We appreciate Acting SEC Chairman Ueda’s thoughtful approach to ensuring that digital assets receive proper legislative and regulatory attention in this new golden era of blockchain in the U.S. and worldwide,” a Binance representative told ForkLog.

The legal battle between Binance and the SEC has been ongoing since June 2023. The regulator sought to ban Binance’s operations in the U.S., seize allegedly illicit profits with interest, and impose financial penalties on the company and its founder, Changpeng Zhao.

“The SEC’s case was baseless from the start. We aim to put this behind us and continue focusing on making Binance the safest, most licensed, and most trusted exchange in the world,” the Binance representative added.

In December 2024, Binance.US announced plans to resume cryptocurrency trading against the U.S. dollar.