SEATTLE -- The City of Seattle's ordinance against ridesharing services has been suspended.

A group has collected enough signatures to place a referendum on the ballot that would overturn the recently approved regulations for companies like UberX and Lyft. The new regulations would have gone into effect later this month.

Seattle Mayor Ed Murray says the taxi companies and ridesharing companies have agreed to enter a 45-day negotiation process. They'll work toward and acceptable solutions for everyone, then the Seattle City Council could repeal the ordinance.

Full statement released Thursday by Mayor Ed Murray:

The TNCs, the taxis and the for-hire companies have all agreed to enter into a 45-day negotiation process to work toward a proposal that is acceptable to all the stakeholders and to City Council. During this good-faith negotiations process, my office will work with the Department of Finance and Administrative Services to develop the enforcement protocols that the City will ultimately implement.

More to follow.

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