"Securities" drops its lawsuit against Binance Exchange

Court documents showed that the U.S. Securities and Exchange Commission dropped its lawsuit against Binance, the world's largest cryptocurrency exchange.

A joint motion to dismiss was filed by attorneys for the U.S. Securities and Exchange Commission, Binance Exchange, and its founder Changpeng Zhao in federal court in Washington, D.C.

The SEC had accused the defendants in 2023 of artificially inflating trading volumes, misappropriating customer funds, failing to restrict U.S. customers from accessing Binance, and misleading investors regarding market surveillance controls.

The commission also accused Binance of illegally facilitating trading of several tokens that previous SEC leadership deemed unregistered securities.

Source: Reuters