The US Securities and Exchange Commission has gone to end its legal battle against the Crypto Exchange Binnins Holdings, a latest sign of a regulator’s dramatic change in which IT has policed ​​cryptocurrency.
Regulator and exchange co -founder Changpeing Xiao filed a joint motion for the US district court for the Colombian district on Thursday. The move is following a joint petition to prevent legal action in February for 60 days.
At present, the SEC and Xiao said that the formation of a special agency Task Force to compile the Crypto Regulatory Policy of the then acting chairman, Mark Yeda, endorsed the pause. The task of the task force can affect the resolution of legalization.
The latest filing calls for the case to be rejected with prejudice, which means it cannot be repeated, and without any cost or fee.
In a post on X, Binens called the dismissal “a huge win for Crypto”. The firm thanked SEC Chair Paul Atkins and President Donald Trump for “turning back against the rule by implementation.”
The SEC sued Binens in June 2023, alleging that the firm and its co -founder misused customer funds, misled investors and regulators, and violated US security laws. The regulator also accused Binnus of offering unregistered securities to US investors.
The firm and Zhao proved in November 2023 for separate allegations that it violated anti -money laundering and US sanctions, in which the firm agreed to pay $ 4.3 billion (about 36,36,781 crores). Xiao also agreed to pay a fine of Rs 50 million (about Rs 42 427 crore) and retire as CEO. Subsequently, the US Department of Justice, the US Commodity Future Trading Commission and the Treasury Department were investigated a year.
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(This story has not been edited by the NDTV staff and has been made auto from the Syndicate Fed.)
