A move to postpone the ongoing lawsuit between the U.S. Securities and Exchange Commission (SEC), Binance, and its previous CEO Changpeng Zhao (CZ) for two months has been proposed. This decision, according to a U.S. court document released on Monday, is aimed at paving the way for a swift settlement and conserving resources.

The case, which originally began in 2023, was initiated by the SEC against Binance, BAM Management (which operates Binance U.S.), and CZ for allegedly breaking securities laws.

The recently formed Crypto Task Force is expected to help in potentially resolving this case, as per the court document. The Task Force, established on January 21 by SEC’s Acting Chairman Mark T. Uyeda, is designed to assist the SEC in creating a regulatory framework for cryptocurrency.

A representative from Binance expressed their gratitude to Interim Chairman Uyeda for his strategic approach in ensuring digital assets receive proper legislative and regulatory attention during this burgeoning era of blockchain, both in the United States and globally. The spokesperson stated that the allegations made by the SEC were baseless and they are keen to move on and maintain Binance as the world’s most secure, licensed, and trusted exchange.

Lately, leading cryptocurrency firms have been advocating for a reduction in regulation by enforcement. The crypto landscape has seen some significant changes, with former SEC Chair Gary Gensler, known for bringing many cryptocurrency firms to court, stepping down. Furthermore, an executive order from President Donald Trump has called for more crypto-friendly policies.