SEC drops lawsuit against crypto giant Binance
The SEC and Binance have filed a joint motion to end a nearly two-year legal battle in the agency’s latest backdown from its prior crypto enforcement actions.
The US Securities and Exchange Commission will drop its long-running lawsuit against crypto exchange Binance in the regulator’s latest backdown from policing the crypto industry.
A joint motion filed on May 29 by the SEC, Binance and its co-founder Changpeng Zhao asked a Washington, DC, federal court to allow the regulator’s complaint that it filed in June 2023 to be dismissed.
The motion mentioned the SEC’s Crypto Task Force “might impact and facilitate the potential resolution of this litigation” and that the regulator believed dropping the suit was appropriate “in the exercise of its discretion and as a policy matter.”
