[NEWS] US SEC dismisses lawsuit against Binance crypto exchange

[bbc.reporter]

It appears that after taking $4 billion from Binance and having CZ 4 months in prison, the government has decided to become merciful and dismissed the other cases hehehehe. I am only joking, this case with the SEC is different from the moneylaundering case with the department of justice. The moneylaundering case a very difficult for CZ to win.

What does this imply to other exchanges that want to begin operations in America? I reckon this might be bullish for them hehehehe.



The U.S. Securities and Exchange Commission on Thursday voluntarily dismissed its civil lawsuit against Binance, the world's largest cryptocurrency exchange, extending the regulator's new approach to cryptocurrencies since President Donald Trump reentered the White House.

A joint stipulation of dismissal signed by lawyers for the SEC, Binance and Binance founder Changpeng Zhao was filed in the Washington, D.C., federal court.

Read in full https://www.reuters.com/sustainability/boards-policy-regulation/us-sec-voluntarily-dismisses-lawsuit-against-binance-2025-05-29/

[logfiles]

Not gonna lie, the previous administration was on a complete witch hunt mode towards BTC and crypto in general. The fact that the current administration decided to losses up things a bit make it look like it's a huge win to crypto, but it's just that the previous administration had made things just so bad.
Honestly, I don't even know what they were thinking to go that far with the witch hunt.

[Z-tight]

Good news for binance, but it was kind of expected in this Trump administration, if the biden administration were to still be in power, i am sure this case will be very far from over. It is obvious that the regulatory scenario in the U.S. is changing and a lot of the strict regulation of the Biden administration is being relaxed. Crypto services would surely face lesser troubles from regulatory watchdogs under this administration.

[FinneysTrueVision]

Trump’s stablecoin USD1 has been getting a lot of promotion from Binance and it has become one of the largest stablecoins on BNB Chain. They are even doing multi-billion dollar investment deals using USD1. I’m sure this had absolutely no influence whatsoever in deciding to drop those charges against Binance.

I wonder why this supposedly crypto friendly administration hasn’t dropped charges against or given pardons to the Samourai devs, Roman Storm, or Roman Sterlingov among a few others. It’s evident you are more likely to receive a favor if you just give Trump a few million dollars.

[shield132]

Not gonna lie, the previous administration was on a complete witch hunt mode towards BTC and crypto in general. The fact that the current administration decided to losses up things a bit make it look like it's a huge win to crypto, but it's just that the previous administration had made things just so bad.
Honestly, I don't even know what they were thinking to go that far with the witch hunt.

It's not a huge win for crypto, it's the opposite because SEC's allegations against Binance were valid. Binance was letting US customers to trade on Binance.com despite the fact that it shouldn't have been allowed. Binance was also manipulating crypto asset trading volumes. It was also offering unregistered offers and sales of BNB, BUSD and etc...
To sum up, these SEC allegations against Binance were very valid and it's sad that SEC dismissed the lawsuit. Consider that SEC also can't bring the same charges again. This is an injustice.

[The Sceptical Chymist]

Um, yeah.  Anyone see today's front page of the Wall Street Journal?  Front and center is a piece about bitcoin, Trump, and a bunch of powerful bitcoin lobbyists.  Though the article reads like it was half-written by AI, it clearly makes a point that Trump is becoming even more pro-crypto than before.





So this news about Binance should not come as a surprise to anyone following US politics--particularly what Trump is spouting off about.  But man, I've got mixed feelings about government being so heavily involved in crypto to say the least.  The article said that VP Vance met with Michael Saylor, the Winklevoss twins, and some other uber-wealthy bitcoin owners behind closed doors.  My gut tells me that bitcoin is going to be co-opted by the people for whom bitcoin wasn't necessarily meant for.  Then again, my gut has been wrong before; time will tell, and hopefully this stuff doesn't turn into a nightmare scenario for the rest of us.

[examplens]

Not gonna lie, the previous administration was on a complete witch hunt mode towards BTC and crypto in general. The fact that the current administration decided to losses up things a bit make it look like it's a huge win to crypto, but it's just that the previous administration had made things just so bad.
Honestly, I don't even know what they were thinking to go that far with the witch hunt.

In the end, that period will remain just a part of history, like many events. Unfortunately, many services disappeared because of that persecution, people ended up in prison due to the development of services that the administration did not like. But I guess every revolution requires victims.
I hope that this period will serve as a lesson for some future crypto regulation plans.

[cabron]

Trump’s stablecoin USD1 has been getting a lot of promotion from Binance and it has become one of the largest stablecoins on BNB Chain. They are even doing multi-billion dollar investment deals using USD1. I’m sure this had absolutely no influence whatsoever in deciding to drop those charges against Binance.

I wonder why this supposedly crypto friendly administration hasn’t dropped charges against or given pardons to the Samourai devs, Roman Storm, or Roman Sterlingov among a few others. It’s evident you are more likely to receive a favor if you just give Trump a few million dollars.

If I were to put all pieces of the puzzles, they made a deal for this USD1 and CZ's case dismissed. Not entirely the truth but if one should see through whats behind it, they shake hands and walk away fulfilling their obligations. Or Trump just loosen up the regulations after all he wants to dominate the crypto with his stablecoin. But true this is good news for Binance and to the crypto in general.

[Z-tight]

time will tell, and hopefully this stuff doesn't turn into a nightmare scenario for the rest of us.

I cannot see it turning out that way for a coin that doesn't have a single point of failure. I have always said that when it comes to a decentralized coin like BTC, there is a limit to the support people should expect from a centralized government.

Politics is about interest, so governments are involved right now because they want to hold BTC reserves and make returns from it in the future, and also get on the good side of crypto people, who are a lot, for future campaigns and elections, and for other few reasons. Worst case is they hold a lot of coins and manipulate the price temporarily, or they withdraw all interest about BTC, and BTC will still be fine.

[The Sceptical Chymist]

I cannot see it turning out that way for a coin that doesn't have a single point of failure. I have always said that when it comes to a decentralized coin like BTC, there is a limit to the support people should expect from a centralized government.

Bitcoin might survive, but there are a lot of things that could go wrong when powerful people/entities with deep pockets start to take interest in it.  I mean really, it was originally meant to be a way to pay for things (in other words, a form of money), but that's gone right out the window because of high fees and confirmation times.  Maybe my imagination is running a bit wild, but when I see politics and big business getting involved with bitcoin the only outcome I envision is corruption or appropriation of it somehow.  The US isn't the only government in the world, right?

Politics is about interest, so governments are involved right now because they want to hold BTC reserves and make returns from it in the future, and also get on the good side of crypto people, who are a lot, for future campaigns and elections, and for other few reasons. Worst case is they hold a lot of coins and manipulate the price temporarily, or they withdraw all interest about BTC, and BTC will still be fine.

Oh, I don't think that's the worst case scenario by any means.  Think about what would happen if the US government tried to fund Social Security with a bitcoin reserve....and then bitcoin went into one of its extremely volatile phases--or straight-up crashed for an extended period of time.  That would be a horror story for a lot of Americans.  If I had an hour to think about it I'm sure I could conjure up some other negative outcomes.

But I'm not hoping for any of that; I'm just concerned as a lover of bitcoin and what it currently stands for.