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US regulator dismisses suit against Binance in latest crypto-friendly move by Trump

  • 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.

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