Binance hails the dismissal of the SEC's lawsuit as a significant victory for the crypto industry.
Binance is celebrating the dismissal of the SEC's lawsuit against it, labelling the outcome as a "big win for crypto." The exchange considers the SEC's decision to drop the case against it and its founder, Changpeng Zhao, a significant victory for the cryptocurrency industry, the United States, and the global community. The lawsuit was officially dismissed by the U.S. Securities and Exchange Commission on Friday, May 30.
Binance expressed its view on the dismissal:
"Today is a big day for Binance, crypto, and the U.S. With the dismissal of the Securities and Exchange Commission’s long-standing case against us, one chapter closes, but a more promising one begins. This legal decision is a signal to the world: The U.S. is serious about innovation again."
Binance further argued that the SEC's past lawsuits against crypto firms had a "chilling effect" on innovation, as the absence of clear regulations left companies unsure of the legality of their operations. The exchange believes that
"The SEC decision benefits everyone: U.S. consumers and the economy, innovators working on the future of finance, and global users who will feel the beneficial ripple effects of a more legitimized and better-understood digital-asset space."
This dismissal, Binance noted, aligns with a shift in political sentiment in the U.S., particularly after Donald Trump's election, where both major political parties now largely support pro-crypto regulation.
