The U.S. Securities and Exchange Commission is seeking to dismiss its lawsuit against crypto giant Binance, according to a court document filed on Thursday.
The agency and lawyers representing the SEC, Binance, and former Binance CEO Changpeng Zhao filed a “joint stipulation” in the U.S. District Court for the District of Columbia.
“Whereas, in light of the foregoing, and in the exercise of its discretion and as a policy matter, the Commission believes the dismissal of this Litigation is appropriate,” according to the filing.
The case has been in a holding pattern over the past few months after both the SEC and Binance asked the judge to stay the case in February, and have since asked for additional time a few times.
The SEC sued Binance in 2023 over being unregistered and misrepresenting trading controls. That same year, Binance and Zhao pled guilty to Bank Secrecy Act violations and agreed to pay over $4 billion to resolve a Justice Department investigation.
The SEC did not immediately respond to a request for comment asking for specifics. Binance celebrated the move.
“The dismissal of the SEC’s case against Binance is a landmark moment,” a Binance spokesperson said in an emailed statement. “We’re deeply grateful to Chairman Paul Atkins and the Trump administration for recognizing that innovation can’t thrive under regulation by enforcement.”
Both parties mentioned the creation of the SEC’s new crypto task force in Thursday’s court filing. That task force has met with various stakeholders over the past few months as the agency takes a different approach to regulating the digital asset industry compared to years past. Under former SEC Chair Gary Gensler and the previous Biden administration, the agency brought several cases against large crypto firms.
The securities watchdog later dropped several high-profile cases — against firms including Coinbase, Uniswap, and OpenSea, among others during the past few months under the new Trump administration. Those actions do not mean people can do whatever they want in the space, Republican Commissioner Hester Peirce told a crowd at the Bitcoin 2025 conference in Las Vegas earlier on Thursday.
“The goal is to use our enforcement tool for what it was intended to be used for, which is when there are clear rules and people violate them, then we can use our enforcement tool,” Peirce, who had criticized the agency’s previous approach to crypto. “It’s certainly not to say that there will not be enforcement. There’s a lot of bad activity, as we all know, that’s perpetrated in the name of crypto.
Updated on May 29 at 9:31 p.m. UTC to include comment from Binance and details
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
