SEC drops Binance lawsuit, ending one of last remaining crypto enforcement actions

The SEC has formally dropped its lawsuit against Binance and founder Changpeng Zhao, bringing an end to one of the last remaining crypto enforcement actions brought by the agency. In a Thursday filing in the U.S. District Court for the District of Columbia, lawyers for the SEC and Binance jointly moved to dismiss the case, which was first brought in June 2023. The case had accused the crypto exchange of illegally serving U.S. users, inflating trading volumes, and commingling customer funds. The dismissal marks a symbolic end to one of the most aggressive crypto crackdowns in U.S. history, and comes as the Trump administration makes a concerted effort to prove that it's an ally to the industry. The Justice Department has shut down its crypto enforcement team, and the Commodity Futures Trading Commission is now set to be led by a venture capitalist with close ties to crypto. Binance is the largest digital assets exchange in the world by volume. It recently forged ties with World Liber ... Read full article.