SEC Stuns Everyone: Binance Lawsuit Dismissed, Crypto Community Reacts Quickly

So, the SEC just dropped its lawsuit against Binance and its CEO, Changpeng Zhao. This kinda came out of nowhere after almost two years of allegations against the exchange for breaching securities laws. Back in June 2023, the SEC claimed Binance was inflating trading volumes, mishandling client funds, and lying to investors about their operations. Now, with the lawsuit tossed out with prejudice, they can’t hit Binance with those same charges again in the future. Binance is taking this as a huge win for them and the whole blockchain space. They think this will help boost confidence among crypto users in places like the U.S., Europe, and beyond...

Binance as we know has been the global leading exchange which have some effect on the market to control the cryptocurrency industry and as the day goes by that is more people keep joining that exchange. Who wouldn't be that please over the case against them for about 2 years now if i am not mistakenly, Sec are also looking for away to buy or dive into full cryptocurrency since the Trump administration has so much favored cryptocurrency and bitcoin. Anyway thanks for sharing and this are the kind of good news we are expecting to hear, I believe one day we would Binance enable NGNUSDT again, I also believed that their case has been resolved till date, though anyone who is currently follow the update can as well share here for us.

I am unsure that this news is legit or fud only but two years ago, when there were many attempts from USA. companies with lawsuits against SEC and Bitcoin Spot ETF applications, I imagined of such future for Binance. USA companies will try to lead combined efforts against Binance as most as possible, and even SEC under USA government will try to make as most advantages as possible for USA companies through regulations. It's not smart if they made big regulatory decisions to benefit Binance while companies from their homeland won't get much advantage from it. To do this, lawsuits against Binance are very necessary and it is what I thought of last two years.

If the new chairman of the Securities and Exchange Commission, Paula Atkins, had not been appointed, there would have been no such decision from the SEC. I am confident that the new leadership of the SEC will be more loyal to the crypto industry as a whole.

Old news Already posted here by another member - [NEWS] US SEC dismisses lawsuit against Binance crypto exchange some days back. It's legit They don't have a choice anyway. Either join the crowd or be left behind.

Er. so what? Binance already settled a huge amount as you know, and that was from many joint lawsuits from many government agencies in USA. This is one agency dropping one lawsuit, probably also because of already past settlement and past cooperation AFTER CZ got caught redhanded. Good news yes but not like great news. Duh.

Great news. However, what did force them into this decision? If they were going to drop the case, why did they come up with it in the first place? Maybe it was just a bluff to extort binance and maybe, they actually succeeded it. Since Trump is trying to extract money from every country he visits, that theory doesn’t sound too unrealistic. I lost my confidence in the centralized exchanges completely lately and while this is some good news, It didn’t restore my confidence. The damage is done. Decentralized or nothing.