SEC and Binance’s lawyers jointly sought the dismissal of the case in a Thursday filing with the U.S. District Court for the District of Columbia.

The U.S. Securities and Exchange Commission (SEC) on late Thursday formally dropped its lawsuit against Binance, ending one of the last remaining enforcement actions against the cryptocurrency sector.

SEC and Binance’s lawyers jointly sought the dismissal of the case in a Thursday filing with the U.S. District Court for the District of Columbia.

The original case, filed in June 2023, accused Binance of illegally serving U.S. users, commingling customer funds, and inflating trading volumes.

Binance co-founder and former CEO Changpeng Zhao ended up with a four-month prison sentence after pleading guilty to money laundering charges. Zhao reached a $4.3 billion settlement with the U.S. government.

The dismissal of the case comes after President Donald Trump promised on his campaign trail to be an ally of the crypto industry.

This also comes at a time when Binance has entered into a partnership with World Liberty Financial, a project with close ties to the Trump family. The crypto platform recently received a $2 billion investment from the Emirati state fund MGX, in USD1, a stablecoin from World Liberty Financial.

Binance co-founder Zhao has also been appointed as an advisor to Pakistan’s recently formed Crypto Council.

World Liberty Financial’s co-founder, Zack Witkoff, son of United States’ Middle East envoy Steve Witkoff, also struck a deal with the Pakistani government recently to explore the tokenization of assets like real estate and commodities, among other things.

Meanwhile, BNB (previously Binance Coin) was down 2.20% over the past 24 hours.

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