SEC Drops Case Against Binance and Zhao, Signals Shift in Crypto Crackdown

The U.S. Securities and Exchange Commission (SEC) has taken a decisive step back from its high-profile case against Binance cryptocurrency exchange and its former CEO, Changpeng Zhao. Court filings released Thursday reveal the SEC and Binance jointly requested dismissal of the civil enforcement action, filed last June. The case targeted Binance Holdings, U.S. affiliate BAM Trading, and Zhao, who stepped down as CEO amid mounting legal pressure.