Key progress overview:
1️⃣ SEC voluntarily withdraws the lawsuit: The U.S. Securities and Exchange Commission has officially submitted documents to the Washington D.C. court requesting to terminate the legal action against Binance and CZ
2️⃣ Consensus achieved: SEC, Binance legal team, and CZ's lawyer have signed a joint motion to withdraw the lawsuit
3️⃣ Policy shift: The SEC states that based on the latest policy considerations, withdrawing the lawsuit aligns with regulatory direction
Event background timeline:
⏳ 2023: SEC accuses Binance of unregistered operations and trading control issues
💰 Settlement in the same year: Binance admits to violating the Bank Secrecy Act and pays a record fine of $4.3 billion
Recent trend: The SEC has successively withdrawn lawsuits against leading platforms like Coinbase and Uniswap
New regulatory attitude direction:
The SEC's newly established crypto task force has recently been intensively consulting with the industry
Commissioner Peirce emphasizes: "Regulatory focus should be on clarifying violations"
However, the SEC will continue to maintain its efforts against illegal activities in the crypto space
Market impact interpretation:
✅ For Binance: Elimination of significant legal uncertainty
🌐 For the industry: Indicates that U.S. regulatory agencies are adjusting their crypto regulatory strategies
📈 For the market: Leading platforms gradually 'clear their names' will boost industry confidence
Note: Although the lawsuit has been withdrawn, the SEC still retains regulatory authority over the crypto industry and may introduce a clearer compliance framework in the future.