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The US SEC has applied to the court to dismiss the lawsuit against Binance.
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The US SEC has submitted documents to the court requesting the dismissal of the lawsuit against the cryptocurrency exchange Binance and its former CEO Zhao Changpeng. The US SEC, Binance, and the lawyers of Binance founder CZ have signed a joint dismissal agreement and submitted it to the federal court in Washington, D.C. They stated that based on policy considerations, they believe that dismissing the case is appropriate.
The lawsuit began in 2023, when the SEC accused Binance of operating without registration and making false statements regarding trade control. In 2023, Binance pleaded guilty to violating the Bank Secrecy Act and paid a fine of $4.3 billion. The documents show that the SEC's newly established cryptocurrency task force has recently conducted extensive consultations with the industry. The SEC has recently dismissed lawsuits against several cryptocurrency companies, including Coinbase and Uniswap. SEC Commissioner Peirce stated that enforcement should focus on clear violations, but illegal activities in the cryptocurrency space will still be targeted.
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