“The US Securities and Exchange Commission (SEC) has submitted a request for termination of a lawsuit against Binance cryptocurrency and its founder Chaden Zhao (CZ). On June 5, 2023, the commission filed a lawsuit with 13 charges, including the sale of unregistered securities. In March 2024, the Exchange reported that after the start of the SEC proceedings, the US department lost 75% […]”, – WRITE: Businessua.com.ua
The US Securities and Exchange Commission (SEC) has submitted a request for termination of a lawsuit against Binance cryptocurrency and its founder Chaden Zhao (CZ).
June 5 2023 The commission filed a lawsuit with 13 charges, including the sale of unregistered securities.
In March 2024, the exchange reported that after the start of the SEC proceedings, the US department lost 75% of income and dismissed 200 employees. At the end of April, CZ was sentenced to four months in prison.
In February 2025, the Commission and Binance filed a joint request to suspend a consideration for 60 days, given the significant changes in the US cryptocurrency law and the creation of a special cryptocurrency target group in SEC. In April, the parties continued the pause until June 16.
According to the documents, the decision to refuse the prosecution of Binance “is not a reflection of the position of the department in other cases.” However, during the 2025 SEC, a number of claims against crypto companies, in particular, Immutable, Kraken and Consensys, withdrew. The cases against Ripple and Gemini were paused.
Recall that in May, the founder and former CEO Exchange Changpen Chezo submitted a formal request for a pardon by US President Donald Trump.
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