SEC Drops Case Against Binance, Closing One of Its Last Major Crypto Crackdowns

The U.S. Securities and Exchange Commission has dropped its lawsuit against Binance and founder Changpeng Zhao, according to CNBC. The move marks the formal end of one of its last major crypto enforcement actions. The SEC originally accused Binance of illegally serving U.S. users, inflating trading volumes, and commingling customer funds. The court granted the SEC’s motion to dismiss with prejudice, preventing the agency from bringing the same claims again. Under the SEC’s new leadership, the agency has shifted away from enforcement and toward engagement and regulatory rollback.