{"id":53390,"date":"2025-05-30T14:47:06","date_gmt":"2025-05-30T14:47:06","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-moves-to-end-binance-lawsuit-as-crypto-enforcement-eases\/"},"modified":"2025-05-30T14:47:06","modified_gmt":"2025-05-30T14:47:06","slug":"sec-moves-to-end-binance-lawsuit-as-crypto-enforcement-eases","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-moves-to-end-binance-lawsuit-as-crypto-enforcement-eases\/","title":{"rendered":"SEC Moves to End Binance Lawsuit as Crypto Enforcement Eases"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>The U.S. Securities and Exchange Commission (SEC) is officially backing away from its legal battle with <strong><a href=\"https:\/\/igaming.org\/cryptocurrencies\/binance\/\">Binance<\/a><\/strong>, marking another step in the agency\u2019s broader retreat from crypto enforcement under the current administration. A joint court filing on May 29 by the SEC, Binance, and company co-founder Changpeng Zhao asked for the case to be dismissed permanently.<\/p>\n<hr\/>\n<p><em><strong>Good to know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>The SEC seeks to drop the Binance lawsuit with prejudice, meaning it cannot refile.<\/strong><\/em><\/li>\n<li><em><strong>The agency cited policy discretion and internal reviews as factors in the decision.<\/strong><\/em><\/li>\n<li><em><strong>Binance had already settled separate charges with the Department of Justice.<\/strong><\/em><\/li>\n<\/ul>\n<hr\/>\n<p>The joint motion submitted to a federal court in Washington, D.C. calls for the dismissal of the SEC\u2019s lawsuit filed in <strong><a href=\"https:\/\/igaming.org\/crypto\/sec-targets-binance-in-landmark-lawsuit-over-securities-violations\/\">June 2023<\/a><\/strong>. That complaint accused Binance, its U.S. entity BAM Trading, and Zhao of violating securities laws, misusing customer funds, and misleading investors. Now, the SEC is asking to end the case with prejudice, effectively closing the door on any future attempts to relitigate.<\/p>\n<p>The motion pointed to the SEC\u2019s Crypto Task Force as a factor in reevaluating the case, suggesting that internal reviews could help lead to broader resolutions. The regulator stated that the dismissal is appropriate \u201cin the exercise of its discretion and as a policy matter.\u201d<\/p>\n<h2>Background on the Lawsuit<\/h2>\n<p>The case against Binance had already been stalled earlier this year. In both February and April, the SEC agreed to pauses in proceedings, citing developments within its crypto division. These pauses hinted that a full dismissal could be on the horizon.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 111% + 111 Free Spins!<\/strong> <\/p>\n<p>New players only. Exclusive 111% Welcome Bonus + 111 Free Spins<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Meanwhile, Binance and Zhao reached a separate resolution with the Department of Justice in November 2023. That agreement included a <strong><a href=\"https:\/\/igaming.org\/crypto\/binance-settles-with-u-s-for-4-3-billion-zhao-steps-down-as-ceo\/\">$4.3 billion penalty<\/a><\/strong> and admissions that the company violated financial sanctions, operated without license, and lacked proper Anti-Money Laundering protocols. Zhao stepped down as CEO and later received a <strong><a href=\"https:\/\/igaming.org\/crypto\/changpeng-zhao-out-of-prison-after-four-month-sentence\/\">four-month prison sentence<\/a><\/strong> in April 2024 after pleading guilty to money laundering violations.<\/p>\n<h2>Binance Celebrates, SEC Shifts Direction<\/h2>\n<p>Binance posted on X, calling the dismissal a<em> \u201chuge win for crypto.\u201d<\/em> The company also thanked former President Donald Trump and <strong><a href=\"https:\/\/igaming.org\/crypto\/paul-atkins-sworn-in-as-new-sec-chairman\/\">newly appointed SEC Chair Paul Atkins<\/a><\/strong> for <em>\u201cpushing back against regulation by enforcement.\u201d<\/em><\/p>\n<p>The withdrawal marks another rollback in the SEC\u2019s approach to crypto under the Trump administration. With Atkins now leading the agency, the SEC has dropped or settled several other crypto-related cases previously filed under the Biden administration. Recent examples include closures of actions involving Coinbase, <strong><a href=\"https:\/\/igaming.org\/crypto\/sec-drops-lawsuit-against-kraken-signaling-shift-in-crypto-regulation\/\">Kraken<\/a><\/strong>, and ConsenSys, along with investigations into Circle, Immutable, and OpenSea. The agency is now working on <strong><a href=\"https:\/\/igaming.org\/crypto\/new-sec-chair-paul-atkins-proposes-unified-framework-for-crypto-and-securities\/\">unified framework for crypto and securities<\/a><\/strong>.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/sec-drops-binance-case-in-another-crypto-enforcement-pullback\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) The U.S. Securities and Exchange Commission (SEC) is officially backing away from its legal battle with Binance, marking another step in the agency\u2019s broader retreat from crypto enforcement under the current administration. A joint court filing on May 29 by the SEC, Binance, and company co-founder [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":49744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/53390"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=53390"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/53390\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/49744"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=53390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=53390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=53390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}