Good News for Crypto Fans: SEC Drops Lawsuit against Binance US!
Jakarta, Pintu News – The legal battle between the US Securities and Exchange Commission (SEC) and Binance.US appears to have entered its final chapter. Today, both parties filed a joint motion to end the dispute that has been ongoing for several months. This move marks an important turning point in the relationship between regulators and the crypto industry.
SEC Attitude Change
Under the past leadership of Gary Gensler, the SEC was known for its aggressive approach towards the US division of Binance. However, the past few months have seen a change in attitude from the commission. In February, the two parties filed a joint motion to postpone their legal battle and requested an extension of time over a month ago.
Today, they are asking for a permanent halt. On June 5, 2023, the SEC filed a lawsuit against Binance, Binance.US, and founder Changpeng Zhao in the US District Court for the District of Columbia. The suit includes 13 counts, including violations of federal securities laws, with claims that Binance offered and sold unregistered securities, including Bitcoin and Binance USD (BUSD) tokens, as well as investment products such as “Simple Earn,” “BNB Vault,” and a staking-as-a-service program.
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Termination of Case by SEC
Today, the SEC officially withdrew its charges against Binance.US. This is an important moment for the blockchain industry, according to a Binance spokesperson. They expressed deep gratitude to Chairman Paul Atkins and the Trump administration for recognizing that innovation cannot thrive under strict regulation. According to them, the US is now back in the lead in blockchain innovation.
However, this is not the only recent attempt by the Commission to end the Gensler-era legal battle. The SEC also reached a similar agreement with Ripple to end the infamous court case, but procedural issues have hampered the deal. Although regulators and token issuers submitted joint proposals and settlement offers, judicial decisions still prevented a clean conclusion.
SEC’s Commitment to Crypto Business
Today’s news signals the SEC’s deep commitment to mending fences with crypto businesses that have come under a lot of scrutiny. Despite the legal complexities, this dispute may still continue, at least on paper, for weeks or months to come. However, this move is expected to pave the way for more cooperation between regulators and the crypto industry in the future.
Conclusion
With the dismissal of this lawsuit, the future of the relationship between the SEC and the crypto industry looks brighter. This move will hopefully encourage more innovation and growth in the blockchain industry, which will benefit not only investors and companies, but also the US economy as a whole.
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Reference
- BeInCrypto. SEC Dismisses Binance US Lawsuit. Accessed on May 30, 2025
- Featured Image: Coinpedia
