The U.S. Securities and Exchange Commission (SEC) has officially dismissed its civil lawsuit against Binance and its founder, Changpeng Zhao (CZ). The case was dismissed "with prejudice," meaning it cannot be refiled in the future.
This decision marks a significant shift in the SEC's approach to cryptocurrency regulation under the Trump administration. Previously, Binance faced allegations of manipulating trading volumes and facilitating the trading of unregistered crypto securities. The dismissal aligns with the SEC's recent trend of retreating from high-profile crypto enforcement actions, including a similar case against Coinbase.
The crypto industry views this development as a victory for innovation and a move toward a clearer regulatory framework. However, the SEC has emphasized that this dismissal does not indicate a blanket policy change and that it will continue to act against fraudulent activities in the crypto space.
In response to the dismissal, Changpeng Zhao expressed his satisfaction, stating, "Crypto is still here," highlighting the resilience and ongoing relevance of the cryptocurrency industry.