The SEC and Binance have agreed to close the case

The SEC and the cryptocurrency exchange Binance have reached an agreement to jointly close the case initiated in June 2023, according to Fox Business journalist Eleanor Terrett.

Recall that the legal process involved Binance Holdings Limited, BAM Trading Services Inc., BAM Management US Holdings Inc., and Changpeng Zhao. The regulator accused Binance and Zhao of violating federal securities laws.

Binance representatives have not yet commented on the situation. However, Zhao posted an image of former SEC Chairman Gary Gensler depicted as a “clown.”