SEC v. Binance dismissed/settled 2025 event
Overview
The U.S. Securities and Exchange Commission and Binance filed a joint motion on May 29, 2025, to terminate the regulator's civil lawsuit in the District of Columbia federal court. The case was dismissed with prejudice, permanently barring the SEC from re-filing. Originally brought in June 2023, the complaint targeted Binance Holdings, BAM Trading (the operator of Binance.US), BAM Management, and founder Changpeng Zhao, charging them with unregistered securities sales, illegal service to U.S. customers, artificial trading volume inflation, and commingling client assets. The dismissal followed a pause in proceedings and the SEC's abandonment of several other crypto enforcement actions during 2025. This civil resolution was distinct from Binance's November 2023 criminal guilty plea and $4.32 billion penalty for anti-money-laundering and sanctions breaches, which remained in effect.
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