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 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.