The US Securities and Exchange Commission (SEC) and the largest cryptocurrency exchange of Binance have reached an agreement on the closure of the case.
The regulator and exchange filed a document on the termination of the trial, begun in June 2023 to the County of Colombia.
Then the department accused Binance, its founder Changpeng Zhao, as well as Bam Trading Services Inc. and Bam Management Us Holdings Inc. In violation of the legislation on securities, incorrect handling of client funds and misleading users.
In February, Binance and SEC submitted a joint application to terminate the trial for 60 days. As a reason in the papers, the creation of a new target group on cryptocurrencies based on the regulator was indicated.
Earlier, Binance appealed to the Court of Delaware with a request to reject the lawsuit with the requirements of $ 1.76 billion filed by the Provisional Administration of the bankrupt exchange of FTX.
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Source: Cryptocurrency
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