After nearly three years of legal back-and-forth, the US Securities and Exchange Commission (SEC) is shutting down its case against Binance. Both parties have submitted a joint filing, bringing the long-running Binance lawsuit to a close.
The US SEC Voluntarily Ends Binance Lawsuit
Early reports trickling in reveal that the US SEC is bringing down the curtains on its lawsuit against Binance and its founder, Changpeng Zhao. According to a Reuters report, the SEC has reached an agreement with Binance to voluntarily dismiss the drawn-out case.
Parties formally filed a joint stipulation of dismissal in a US federal court in Washington, signed by their legal representatives. Going forward, the SEC’s decision to call a truce on the Binance lawsuit signals an end to the era of crypto regulation by enforcement.
“Huge win for crypto today,” said Binance in a statement on X. “The SEC’s case against us is dismissed.”
THIS IS A DEVELOPING STORY AND WILL BE UPDATED AS NEW FACTS EMERGE
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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