SEC Agrees to Drop Lawsuit Against Binance and Founder CZ: Court Filing
David ClarkeThe SEC is pulling out of yet another crypto case, filing to dismiss its ongoing litigation against Binance and founder Changpeng Zhao.[...]
SEC Drops Lawsuit Against Binance and Founder
In a surprising turn of events, the Securities and Exchange Commission (SEC) has moved to dismiss its long-running lawsuit against cryptocurrency exchange Binance and its founder, Changpeng "CZ" Zhao. The case stemmed from 2023 allegations that Binance, Binance.US, and Zhao sold unregistered securities, failed to restrict U.S. users from the main exchange, and improperly mixed customer funds through what regulators called a "web of deceit."
The court filing reveals the SEC's decision to withdraw the case, signaling a notable shift in cryptocurrency regulation. This development could have significant consequences for how digital assets are governed in the U.S. financial landscape.
Legal experts and industry analysts are now watching closely to understand the broader implications of this decision and what it may mean for future cryptocurrency oversight.
