The SEC has filed a motion with the court to dismiss the lawsuit against Binance.

BlockBeats News, May 30th, according to The Block, the U.S. SEC has filed a document with the court requesting the dismissal of the lawsuit against the cryptocurrency exchange Binance and its former CEO Changpeng Zhao. Lawyers for the U.S. SEC, Binance, and Binance's founder CZ have signed a joint dismissal agreement, which has been submitted to a federal court in Washington, D.C. They stated that, based on policy considerations, they believe that dismissing this case is appropriate.

The lawsuit began in 2023, with the SEC accusing Binance of operating without registration and making trading control misstatements. 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 formed crypto task force recently held extensive discussions with the industry. The SEC has recently dismissed lawsuits against several crypto companies, including Coinbase and Uniswap. SEC Commissioner Peirce said that enforcement should focus on clear violations, but will still crack down on illegal activities in the crypto sector.