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The U.S. Securities and Exchange Commission (SEC) has indeed filed a joint stipulation to dismiss its civil enforcement action against Binance Holdings Limited, BAM Trading Services Inc., BAM Management US Holdings Inc., and founder Changpeng Zhao. This means the case is being dismissed “with prejudice,” preventing the SEC from refiling these specific claims.
This dismissal is part of a broader shift in the SEC’s approach to crypto regulation, particularly under the current administration. The SEC has stated that this decision is “in the exercise of its discretion and as a policy matter,” and that it does not necessarily reflect its position on any other ongoing litigation or proceeding.
Several sources indicate that this move aligns with a new strategy by the SEC, which includes the formation of a “Crypto Task Force” aimed at developing a more comprehensive and transparent regulatory framework for crypto assets, rather than relying primarily on enforcement actions.
It’s important to note that this civil case was separate from Binance’s and Zhao’s previous guilty pleas in November 2023 for violating anti-money laundering and sanctions laws, which resulted in a multi-billion dollar penalty for Binance and a prison sentence for Zhao.

Video courtesy of First Bank of Nigeria

Video courtesy of First Bank of Nigeria