SEC v. Binance dismissed/settled 2025 event

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Overview

On May 29, 2025 the SEC and Binance jointly moved to dismiss the agency's civil enforcement action in the U.S. District Court for the District of Columbia, and the case was dismissed with prejudice — meaning the SEC cannot refile it. The suit, filed in June 2023 against Binance Holdings, Binance.US operator BAM Trading, BAM Management and founder Changpeng Zhao, had alleged unregistered securities offerings, illegally serving U.S. users, inflated trading volumes and commingling of customer funds. The dismissal came after the SEC paused the case and dropped a series of other crypto enforcement actions in 2025. It was separate from Binance's November 2023 guilty plea and $4.32 billion criminal penalty for anti-money-laundering and sanctions violations, which remained in force.

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Frequently asked questions

Was the SEC's Binance case settled or dismissed?

It was voluntarily dismissed. The SEC and Binance jointly moved to dismiss on May 29, 2025, and the dismissal was with prejudice, so the SEC cannot bring the case again.

What had the SEC alleged?

The June 2023 complaint alleged Binance illegally served U.S. users, offered unregistered securities, inflated trading volumes, misled investors about trading controls, and commingled customer funds.

Did the dismissal wipe out Binance's other penalties?

No. It was separate from Binance's November 2023 guilty plea and $4.32 billion criminal penalty for violating U.S. anti-money-laundering and sanctions laws.