The SEC has agreed to end its lawsuit against Binance, signaling a shift in its enforcement strategy toward crypto firms.
A joint filing submitted May 29 requests the dismissal of the 2023 case, with the SEC noting its Crypto Task Force’s role in the decision. The motion emphasizes that the dismissal would be with prejudice, preventing further legal action.
The lawsuit, which alleged securities violations and mismanagement of customer funds, had been paused multiple times this year. Binance previously settled a separate DOJ case for $4.3 billion, leading to Zhao’s resignation and imprisonment.
