The US Securities and Exchange Commission has dropped its lawsuit against Binance and founder Changpeng Zhao, ending one of its final high-profile crypto enforcement actions.
The case, brought in 2023, accused Binance of illegal operations, market manipulation, and listing unregistered securities. Its dismissal, with prejudice, means the charges cannot be refiled.
The move reflects a broader regulatory shift in Washington. The Justice Department has shut down its crypto task force, and the SEC is now focusing on clearer rulemaking rather than enforcement.
Binance had already agreed to a $4.3 billion settlement, with Zhao stepping down as CEO.