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The latest news on Binance is that the US Securities and Exchange Commission (SEC) has dropped its lawsuit against the crypto giant and its founder, Changpeng Zhao. This move is seen as a potential shift in cryptocurrency policy under President Donald Trump. The SEC had accused Binance of artificially inflating trading volumes, diverting customer funds, and misleading investors about its surveillance controls. The dismissal, filed with prejudice, means the SEC cannot reopen the case ¹.
Key Points:
- SEC's Reason for Dismissal: The SEC said dismissing the case was appropriate "in the exercise of its discretion and as a policy matter".
- Binance's Response: Binance called it a "huge win for crypto" and thanked SEC Chair Paul Atkins and US President Donald Trump "for pushing back against regulation by enforcement".
- Previous Charges: Binance pleaded guilty in November 2023 to violating federal anti-money laundering and sanctions laws and was slapped with a $4.32 billion criminal penalty.
- Zhao's Settlement: Zhao pleaded guilty to anti-money laundering violations and was released from prison last September after serving a four-month sentence.
Additionally, Binance Coin (BNB) is currently trading at $649.76, with a market cap of $92.15 billion. The price has seen a slight decrease of 0.60% ².
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