GREAT NEWS!
The #SEC DROPS the LAWSUIT against #Binance
In an unexpected and highly significant turn, the U.S. Securities and Exchange Commission (SEC) has decided to drop its long-standing lawsuit against the cryptocurrency exchange Binance.
The joint motion filed by both parties on Thursday, without providing a detailed explanation beyond the SEC's "discretion," has generated a flood of speculation in the crypto community.
"In exercising its discretion and as a matter of policy, the Commission considers it appropriate to dismiss this litigation," the joint filing states. "...the Commission's decision to seek dismissal of this litigation does not necessarily reflect its stance in any other litigation or proceeding."
The parties request the dismissal of the case with prejudice, meaning that the SEC will not be able to refile this lawsuit against Binance in the future. The request also includes provisions to prevent Binance, its affiliated entities, and its executives from filing a lawsuit or complaint against the SEC in connection with the lawsuit filed in June 2023 against Binance, #binanceus , and Binance's founder, Changpeng Zhao @CZ .
In a statement, an external spokesperson for Binance.US said they were "pleased that the SEC completely dismissed its charges against Binance.US, confirming what we have always known: that the company did not violate U.S. securities laws."