US SEC applies to the court to withdraw the lawsuit against Binance

Odaily News The US SEC has filed documents with the court to withdraw the lawsuit against the cryptocurrency trading platform Binance and its former CEO Zhao Changpeng. The US SEC, Binance, and Binance founder CZ's lawyers signed a joint withdrawal agreement and submitted it to the federal court in Washington, DC. They also stated that based on policy considerations, they believed that it was appropriate to withdraw the case.
The lawsuit began in 2023, with the SEC accusing Binance of operating without registration and making false statements about 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 working group has recently held extensive consultations with the industry. The SEC has recently withdrawn lawsuits against several crypto companies including Coinbase and Uniswap. SEC Commissioner Peirce said that law enforcement should target clear violations, but will still crack down on violations in the crypto field. (The Block)