Binance breaks silence after firing in SEC lawsuit: More Information

The SEC has dismissed the lawsuit against Binance, indicating a major shift in the US approach to Crypto. This termination marks the iconic end to one of the most offensive cryptocurrency crackdowns in US history.

In a newly released statement, Binance expressed his optimism and relief, saying that the firing of the SEC case was a victory for cryptocurrency, the US and the world.

“This move presents a global green light for responsible crypto innovation, boosting confidence from the US and beyond,” Binance said. He added that the legal decision is a signal to the world that “the US is taking innovation seriously again”, and that this message is important for entrepreneurs in Silicon Valley and Austin, as well as everyday users everywhere.

Binance said the SEC’s decision benefits everyone, including US consumers and the economy, and benefits from innovators working on the future of finance, a more legitimate and well-understood digital asset space, with wider results beyond the courts.

The era of clarity arrives

The SEC has formally stopped the lawsuit against Binance and founder Changpeng Zhao, putting an end to one of the agency’s last remaining code enforcement actions. The SEC filed a lawsuit against Binance and Zhao in June 2023, claiming that the exchange artificially bulged over surveillance management, bypassing customer funds and misinterpreted investors.

The SEC said dismissing an enforcement case is appropriate “as an exercise and policy issue of its discretion,” but does not reflect its views on other cryptocurrency cases. The issue was rejected due to bias. In other words, the SEC cannot pursue it again.

Binance said the case termination sent the signal. An era of unconfirmed enforcement may ultimately be replacing one of clarity. In light of the fire, Binance said that doesn’t mean the work will be done, but Crypto’s future has brightened up in the US and everywhere else he sees.