TechFlow news, May 30 — According to The Block, the U.S. Securities and Exchange Commission (SEC) is seeking to dismiss its lawsuit against Binance, the world's largest cryptocurrency exchange. Attorneys representing the SEC, Binance, and its former CEO Changpeng Zhao filed a "stipulation" document on Thursday with the U.S. District Court for the District of Columbia.
Previously in 2023, the SEC sued Binance for operating without registration and making false statements about trading controls. That same year, Binance and Zhao admitted to violating the Bank Secrecy Act and agreed to pay over $4 billion to resolve an investigation by the U.S. Department of Justice.
Under new SEC Chair Paul Atkins, the commission has recently moved to drop lawsuits against several prominent crypto firms, including Coinbase, Uniswap, and OpenSea. The SEC stated that dismissing this case does not reflect its position on any other litigation or proceedings.
