🔍 In this article:
🔹 The SEC and Binance have agreed to dismiss a civil lawsuit that has lasted nearly two years
🔹 The decision reflects a broader shift in the SEC's approach to crypto regulation
🔹 The SEC’s newly formed Crypto Task Force may have played a key role in resolving the conflict
🔹 This case joins a growing list of settlements with major crypto firms
After a prolonged legal battle, the U.S. Securities and Exchange Commission (SEC) and Binance have decided to lay down arms. On May 29, both parties filed a joint motion to dismiss the lawsuit that began in June 2023. The move is seen as part of the SEC’s evolving stance toward the crypto industry, one that favors cooperation over confrontation.
The news was reported by journalist Eleanor Terrett, who shared a screenshot of the court filing on platform X. The document names the SEC as the plaintiff and Binance Holdings Limited, BAM Trading Services Inc., BAM Management US Holdings Inc., and Changpeng Zhao as defendants.
Regulatory Shift: The Crypto Task Force Steers Dialogue
The SEC initially filed the civil complaint on June 5, 2023, and later amended it in October 2024. Now, in its May 2025 statement, the Commission declared it believes “a dismissal is appropriate given current circumstances and policy considerations.”
Hints of resolution had emerged earlier—in February and April, both parties asked the court to pause proceedings, signaling behind-the-scenes negotiations.
Crucially, court documents highlight the role of the SEC’s new Crypto Task Force, which was launched in January 2025 by acting SEC Chair Mark T. Uyeda. The group was tasked with drafting a clear, comprehensive regulatory framework for digital assets.
Binance Follows a Trend: SEC Ends Multiple Crypto Disputes
The Binance resolution aligns with a growing trend: the SEC has recently dismissed or settled lawsuits against Coinbase, Kraken, ConsenSys, and Circle, among others.
This wave of settlements indicates a strategic departure from the aggressive enforcement tactics seen during Gary Gensler’s tenure. Rather than confrontational litigation, the agency now appears more open to collaboration and structured regulation.
While many in the crypto community have welcomed the decision, some on X have drawn comparisons to the Ripple case, another landmark legal saga.
Ripple as a Precedent?
The SEC’s lawsuit against Ripple Labs began in December 2020 and only concluded with a $125 million penalty on August 7, 2024. It remains one of the most significant legal battles in crypto history.
Although the SEC’s actions still face scrutiny, the latest developments suggest a more constructive approach may be taking shape.
Summary:
The dismissal of the Binance case signals a possible turning point for how U.S. regulators engage with crypto firms. With a dedicated crypto task force and a growing number of settlements, the SEC seems to be moving toward clarity over confrontation.
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