Two years after the legal proceedings began, the SEC has officially quit its case against the world’s largest cryptocurrency exchange. It was one of the US government’s last ongoing operations against crypto companies.
The SEC and the binns lawyers moved to the filing on Thursday to jointly reject the case. This is after a 60 -day break by the two sides in February. The case has been excluded with prejudice, which means that the SEC cannot chase it again. “We (SEC) chairman Paul Atkins and the Trump are sincerely grateful to the administration that they cannot develop under the rules by acknowledging that the Innovation cannot be developed,” said Binnus, “SEC Chairman Paul Atkins and the Trump administration said. Reuters In a statement, the dismissal is called “an important moment”.
The SEC filed a lawsuit against Binens in 2023, accusing him, and founder Changping Xiao, with illegal exchange in the United States and fraudulent investors with other crimes. Binens set up a separate case with the Justice Department in 2023, which saw the company agreed to pay 3 4.3 billion fines. Xiao himself retired from the company and blamed the anti -money laundering rules, which paid $ 50 million personal fines and sentenced him to four months imprisonment.
The SEC dismissal is the latest sign of the Trump administration’s acceptance of the cryptocurrency industry. In April, it abolished a DOJ unit dedicated to implementing cryptocurrency fraud, and this year the SEC has already terminated the investigation of both Coin Base and Robin Hood. Meanwhile, Trump has strengthened the crypto industry by launching a Crypto Strategic Reserve and hosting a private dinner for those willing to return their own $ Trump Mem Coin.
