The U.S. Securities and Exchange Commission (SEC) has dismissed its lawsuit against crypto exchange Binance, marking the end of a high-profile enforcement action in the crypto space.
The SEC, Binance, and ex-CEO Changpeng Zhao filed a joint motion requesting the dismissal of the lawsuit with prejudice, indicating it cannot be reopened.
This decision follows the SEC's evolving approach to crypto regulation under new leadership, including dropping enforcement actions against other major companies like Coinbase, Ripple, and Kraken.
The SEC's change in stance is attributed to the pro-crypto stance of SEC Chairman Paul Atkins and a commitment to creating a regulatory framework for digital assets.