The SEC and Binance have jointly requested a 60-day pause in their lawsuit, following a previous pause requested 60 days ago. They have been engaged in constructive discussions during this time to potentially reach a settlement.

Both parties have sought additional time to finalize an agreement and carefully assess the relevant policy implications. The agreement is similar to the recent one between the SEC and Ripple, signaling progress in resolving the legal dispute.

Binance, a major cryptocurrency exchange, has been involved in a legal battle with the SEC since 2023 when the Commission alleged serious violations of securities laws and misleading regulators. The recent motion filed by both parties indicates ongoing discussions aimed at settling the matter amicably.

The new leadership at the SEC, overseen by Chair Paul Atkins, has shown a willingness to adopt more crypto-friendly regulations. The request for an extended pause in the lawsuit suggests that meaningful progress has been made in their negotiations, focusing on broader policy considerations and the implications of reaching a settlement.

Similar to the recent agreement with Ripple, the joint motion filed by Binance and the SEC aims to efficiently resolve the legal dispute while considering the interests of all parties involved.