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."

There has been a lot of debate the past few months about what the SEC would do with its ongoing crypto litigation and now we have the answer,” said Am Law 10 firm partner Ladan Stewart.

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.

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

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

The U.S. Securities and Exchange Commission is seeking to pause its high-profile lawsuit against the cryptocurrency exchange Binance as the regulator tries to present itself as more crypto-friendly.