Source: Cointelegraph Original: "{title}"

After various parties indicated that the new leadership of the SEC might render the lawsuit ineffective, a U.S. federal judge agreed to pause the lawsuit filed against the Securities and Exchange Commission by 18 state attorneys general and the decentralized finance education organization (DeFi Education Fund).

U.S. District Court Judge Gregory Van Tatenhove ordered on April 16 to pause the case for 60 days, noting that the SEC mentioned in a mid-March filing that "due to the transition in leadership at the regulatory agency, the case may be resolved."

He added that the parties must submit a joint status report within 30 days.

Paul Atkins, a Wall Street advisor who has served on the boards of several cryptocurrency advocacy organizations, was sworn in as the new chairman of the SEC earlier this month, succeeding acting chairman Mark Uyeda and replacing Gary Gensler.

The 18 attorneys general from Republican states filed the lawsuit against the securities regulator in November last year, accusing the SEC of exceeding its authority in lawsuits against cryptocurrency exchanges and accusing the agency and then-chairman Gensler of "serious overreach."

The plaintiffs include attorneys general from states such as Nebraska, Tennessee, Wyoming, Kentucky, West Virginia, Iowa, Texas, Mississippi, Ohio, Montana, Indiana, Oklahoma, and Florida.

The lawsuit states: "Without congressional authorization, the SEC is attempting to unilaterally seize regulatory authority from the states through a series of ongoing enforcement actions."

Meanwhile, the DeFi Education Fund, Blockchain Association, and Texas Blockchain Council voluntarily dismissed their lawsuit against the IRS on April 16.

The filing states: "The parties hereby agree to voluntarily dismiss this lawsuit without prejudice, as the case has become moot."

This lawsuit was filed in December last year, arguing that the so-called IRS DeFi broker rules exceeded the agency's authority and were unconstitutional.

On April 11, President Trump signed a bill that repealed the rules requiring DeFi protocols to report transactions to the IRS.

Under the new leadership, the SEC has paused or withdrawn several significant lawsuits against cryptocurrency companies this year.

Related: The SEC's next roundtable will discuss cryptocurrency custody issues.

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