SEC Seeks Dismissal of Binance Lawsuit in Joint Filing

The SEC has moved to dismiss its lawsuit against Binance, according to a May 29 court filing.

Binance, its co-founder Changpeng Zhao, and the regulator jointly requested the dismissal, citing the SEC’s Crypto Task Force and policy considerations.

The motion asks for the case to be dropped with prejudice, meaning it cannot be reopened.

The SEC initially sued Binance in 2023 over alleged securities law breaches and mishandling of user funds. The case follows Binance’s $4.3 billion settlement with the DOJ, which resulted in Zhao’s four-month prison sentence.