The U.S. SEC has filed a motion to dismiss the lawsuit against Binance

ChainCatcher news, according to The Block, the U.S. SEC has submitted documents to the court requesting the dismissal of the lawsuit against the cryptocurrency exchange platform Binance and its former CEO Changpeng Zhao. The U.S. SEC, Binance, and the lawyers for Binance founder CZ have signed a joint dismissal agreement, which was submitted to the federal court in Washington, D.C. They stated that based on policy considerations, they believe it is appropriate to dismiss the case.

The lawsuit began in 2023, with the SEC accusing Binance of operating without registration and making false statements regarding trading controls. In 2023, Binance pleaded guilty to violating the Bank Secrecy Act and paid a $4.3 billion fine. Documents show that the SEC's newly established crypto task force has recently engaged in extensive consultations with the industry. The SEC has recently dismissed lawsuits against several crypto companies, including Coinbase and Uniswap. SEC Commissioner Peirce stated that enforcement should target clear violations, but there will still be a crackdown on illegal activities in the crypto space.