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 SEC said the work of a new crypto task force that's supposed to improve ties to the crypto industry "may impact and facilitate the potential resolution of this case."

The SEC and Binance have filed a joint motion to pause their legal case for 60 days, citing the work of the new SEC Crypto Task Force.

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.

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.