A U.S. District Court has granted a request by Binance and the Securities and Exchange Commission (SEC) to put their ongoing legal battle on pause.

According to The Block, Judge Amy Berman Jackson of the District Court for the District of Columbia ordered a 60-day stay of the case on Thursday, with a directive for both parties to submit a joint status report by April 14.

The stay comes after a joint motion filed on Monday by the cryptocurrency exchange and the regulatory body, citing the formation of the SEC's new crypto task force. This initiative is focused on establishing a clear regulatory framework for digital currencies.

The task force, led by Commissioner Hester Peirce, has outlined priorities, including the potential classification of certain tokens as "non-securities."

The SEC's approach to cryptocurrency regulation has evolved significantly with the change in administration. The previous chair, Gary Gensler, was known for his cautious stance on cryptocurrencies, advocating for crypto firms to be registered with the agency. Under his leadership, the SEC pursued multiple lawsuits related to registration violations, including actions against Binance.

In 2023, the SEC filed a lawsuit against Binance, alleging that the platform was unregistered and had misrepresented its trading controls. In response to separate allegations, Binance and its former CEO, Changpeng Zhao, admitted to violations of the Bank Secrecy Act and agreed to pay over $4 billion to settle a Justice Department investigation.

Another high-profile case involves the SEC suing Coinbase (NASDAQ: COIN ) in 2023 for allegedly operating without proper registration as a broker, exchange, and clearing agency. Coinbase appealed the lawsuit in April, and a New York judge later approved the exchange's request to appeal. The SEC is scheduled to reply to Coinbase's appeal this Friday.