SEC Moves to Dismiss Lawsuit Against Crypto Exchange Binance
The U.S. Securities and Exchange Commission (SEC) has decided to dismiss its lawsuit against crypto exchange Binance without explanation. Key points include:
- The SEC and Binance submitted a joint motion indicating the case had been paused while a new crypto task force develops regulatory frameworks.
- The SEC seeks dismissal with prejudice, preventing future lawsuits related to this matter.
- Provisions in the filing aim to block Binance or its affiliates from suing the SEC over the lawsuit.
- The SEC's decision follows the introduction of a formal bill by U.S. lawmakers to define oversight of digital assets.
- Binance.US expressed satisfaction with the SEC's dismissal, asserting compliance with U.S. securities laws.
- This dismissal is part of a broader trend, with the SEC having previously dropped over a dozen investigations and lawsuits against various crypto entities.
- The SEC's approach shifted following changes in leadership under President Trump.
Commissioner Hester Peirce noted that investors should not expect government protection for speculative digital asset investments.