US authorities have finally come to their senses and decided to withdraw the lawsuit against the cryptocurrency exchange Binance, filed in June 2023.
On May 29, the Securities and Exchange Commission (SEC), Binance and the trading platform’s founder, Changpeng Zhao, have asked a U.S. federal court to dismiss the regulator’s complaint, which accuses the defendants of violating anti-money laundering laws, misusing customer funds, and misleading users. As a result, the case against the exchange and Zhao will be dismissed.
Members of the crypto community congratulated the team Binance on social media with a victory in the legal battle, and Changpeng did not fail to take a jab at former SEC Chairman Gary Gensler, who fought with the crypto industry, and published a photo of him with a circus balloon on his nose and the caption “kriptovalyuta still here.»
Photo of Gensler published by Zhao
SEC case ends for Binance and Changpeng is much more successful than the legal conflict with the US Department of Justice, which was settled in November 2023. At that time, representatives of the exchange and Zhao admitted guilt in violating economic sanctions, providing services to Americans without a license, and negligently applying anti-money laundering measures. For these offenses, the trading platform had to pay a fine of $4,3 billion, and Zhao spent four months behind bars.
We have never been so optimistic about the future. Binance.US [American platform Binance] and cryptocurrencies in the United States. We will continue to provide secure access to digital assets while maintaining our commitment to compliance and customer interests, the employees wrote. Binance.US.
