SEC moves to dismiss Binance lawsuit
The US Securities and Exchange Commission will drop its long-running lawsuit against crypto exchange Binance in the regulator’s latest backdown from policing the crypto industry.
A joint motion filed on May 29 by the SEC, Binance and its co-founder Changpeng Zhao asked a Washington, DC, federal court to allow the regulator’s complaint that it filed in June 2023 to be dismissed.
The motion mentioned the SEC’s Crypto Task Force “might impact and facilitate the potential resolution of this litigation” and that the regulator believed dropping the suit was appropriate “in the exercise of its discretion and as a policy matter.”
The motion also bids for the lawsuit to be dropped with prejudice, meaning it cannot be filed again.
The…
