Odaily Planet Daily News The U.S. SEC has submitted documents to the court requesting the withdrawal of the lawsuit against the cryptocurrency trading platform Binance and its former CEO Zhao Changpeng. The U.S. SEC, Binance, and lawyers for Binance founder CZ signed a joint withdrawal agreement and submitted it to the federal court in Washington, DC. And said that based on policy considerations, it is appropriate to withdraw the case.
The lawsuit began in 2023, and the SEC accused Binance of unregistered operations and misrepresentation of trading control. In 2023, Binance pleaded guilty to violating the Bank Secrecy Act and paid a fine of $4.3 billion. The documents show that the SEC's newly established crypto working group has recently held extensive consultations with the industry. The SEC has recently withdrawn lawsuits against several crypto companies such as Coinbase and Uniswap. SEC Commissioner Peirce said that law enforcement should target clear violations, but will still crack down on violations in the crypto field. (The Block)