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 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 under a new administration.

The SEC regulator in June 2023 sued Binance, its U.S. unit and founder Changpeng Zhao, accusing them of artificially inflating trading volumes, diverting customer funds and misleading investors about its market surveillance controls.