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."

Crypto exchange Binance and the SEC filed a joint motion to hit pause on their lawsuit, saying shifting sentiment could change the outcome.

The US Securities and Exchange Commission filed a request to put its case against crypto exchange Binance on hold, citing pending development of a regulatory framework for digital assets under the Trump administration.

In a court filing dated Monday, the parties said the task force, formed last month to work on crypto regulations, may "impact and facilitate the potential resolution of this case". The stay could be an early sign of the SEC's pivot to a more crypto-friendly stance,

The SEC and Binance have jointly requested a 60-day stay in their ongoing legal battle to allow for regulatory developments.