S.E.C. Drops Lawsuit Against Binance, a Crypto Exchange
The Trump administration’s retreat on crypto enforcement continued on Thursday as the Securities and Exchange Commission announced that it was dismissing a lawsuit it filed two years ago against the giant cryptocurrency exchange Binance and its founder, Changpeng Zhao.
The S.E.C. had accused Binance and Mr. Zhao of lying to regulators about its operations in the United States and mishandling customer money.
The commission, the nation’s top securities regulator, has moved to dismiss more than a dozen lawsuits or investigations against crypto firms. In February, it asked a federal judge to stay the litigation against Binance as it reassessed its approach to regulating the fast-growing crypto industry.
In the four-page dismissal notice, the…
