The US SEC voluntarily dismissed its civil lawsuit against Binance, the world's largest cryptocurrency exchange, signaling a friendlier approach towards cryptocurrencies under the Trump administration's influence.
The dismissal with prejudice means the SEC cannot pursue the case again, with the regulator citing the move as appropriate in the exercise of its discretion and as a policy matter.
Binance spokesperson called the dismissal a 'landmark moment', thanking SEC Chairman Paul Atkins and the Trump administration for recognizing the need for innovation without excessive regulatory enforcement.
The SEC's actions align with Trump's pro-crypto stance, with promises to be a 'crypto president' and a shift from the industry crackdown seen under the previous SEC leadership. Developing clear regulatory frameworks for cryptocurrencies remains a key priority.