The U.S. SEC withdrew a civil lawsuit it had filed against Binance in June 2023, with a permanent decision (with prejudice), meaning the case cannot be refiled in the future, in a decision that Binance confirmed as a "watershed moment."
After two years of legal proceedings, the U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Binance, the world's largest cryptocurrency exchange. This lawsuit was one of the last ongoing U.S. government actions against cryptocurrency companies.
Attorneys for the U.S. Securities and Exchange Commission and Binance jointly filed a motion to dismiss the case in a filing made on Thursday. This follows a 60-day temporary stay requested by both parties in February. The case was dismissed with prejudice, meaning the SEC cannot pursue it again. Binance stated to Reuters in a statement: "We are extremely grateful to SEC Chairman, Gary Gensler, and the Trump administration for recognizing that innovation cannot thrive under regulation by enforcement," describing the dismissal as a "pivotal moment."
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