End of history. There Securities and Exchange Commission (Sec) of the United States has decided to abandon its prosecution against Binance, thus marking a major turning point in the legal battle between the regulator to the cryptocurrency exchange platform. This decision comes after a series of negotiations and reports that have kept the entire crypto ecosystem in suspense. Back on the details of this case.
- The Sec has abandoned its prosecution against Binance, marking a major turning point in the legal conflict with the cryptocurrency platform.
- Binance and its co -founder Changpeng Zhao felt relief after intense regulatory pressure, following an agreement with the Department of Justice including a fine of $ 4.3 billion.
The dry drops the case against Binance
In a motion spouse deposited on May 29, the DRY,, Binance and its co -founder Changpeng Zhao Asked a Washington DC Federal Court to reject the complaint filed by the regulator in June 2023. This complaint accused the platform for the violation of securities laws, mismanagement of customer funds and deception to the latter.
The motion mentions that the Crypto Task Force dry could » facilitate the potential resolution of this dispute And that the abandonment of the prosecution was appropriate « In the exercise of his discretion and as a question of politics ».
A relief for Binance and Changpeng Zhao
This decision is a victory for Binance and its co -founder Changpeng Zhaowho had to face intense regulatory pressure in the past two years. In November 2023, Binance and CZ had already settled a separate case with the Department of Justiceagreeing to pay a fine of $ 4.3 billion And admitting having violated sanctions, acting as a silver transmitter without license and also failed to implement appropriate anti-flowage measures.
As part of this agreement, CZ had then resigned from his post as CEO of Binance and recognized an accusation of money laundering. He was then sentenced to Four months in prison in April 2024.
On x, binance has qualified This decision to « Great victory for crypto » And thanked President Donald Trump and the president of the dry Paul Atkins for having « Pushed the regulations by the application ».
The abandonment of the pursuit against Binance is part of a series of similar decisions taken by the dry under the Trump administration. The agency has also abandoned or settled complaints against Coinbase, Consensus and Kraken, among others, and has ended investigations on businesses like Circle, immutable and Opensea. With the appointment of Paul Atkins at the head of the dry, it seems that the agency is ready to adopt an approach more conciliatory towards the cryptocurrency industry.