The U.S. Securities and Exchange Commission (SEC) and Binance have filed a joint stipulation to dismiss the lawsuit against the trading platform.
The SEC initially took the cryptocurrency behemoth to court back in June 2023. Binance and former CEO Changpeng Zhao were accused of violating security laws
The dismissal comes after the closely watched case was put on hold by a federal judge based in Washington, D.C., in February in response to a joint motion filed by the parties.
“This is a major milestone for our company. With this case behind us, we’re turning our full attention to growth—expanding crypto access, winning back trust, and restoring relationships that were impacted by the SEC,” Binance.US, the American subsidiary of the global trading giant, said on X in response to the above-mentioned development.
Notably, BNB (BNB) has failed to surge on the news. The token is up only by a mere 0.4% over the past hour. The dismissal was likely widely priced in by the market, which explains the muted price reaction.
Earlier this year, the SEC also dismissed the cases against such major crypto exchanges as Kraken and Coinbase.
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