Overview

• On May 29 the SEC filed a joint stipulation to dismiss its civil suit against Binance and CEO Changpeng Zhao with prejudice, barring future refiling.
• The initial 2023 complaint under Gary Gensler accused Binance of serving U.S. users without registration, inflating trading volumes and commingling customer funds.
• This move follows February’s dismissal of a similar case against Coinbase and continues the SEC’s withdrawal from multiple crypto enforcement actions.
• Chair Paul Atkins has prioritized developing clear rules for issuing, trading and safeguarding digital assets through a new crypto task force.
• President Trump’s pro-crypto agenda, including his ‘crypto president’ pledge, has coincided with the SEC’s shift away from enforcement toward regulatory clarity.