The US Securities and Exchange Commission has announced that it will drop its long-running lawsuit against crypto exchange Binance in the regulator's latest backdown from policing the crypto industry.
The SEC Binance has filed a joint motion and the co-founder Changpeng Zhao has requested Washington, D.C., federal court to allow the regulator's complaint that it filed in June 2023 to be dismissed.
The SEC's Crypto Taskforce "might impact and facilitate the potential resolution of this litigation," and the regulator believed dropping the suit was appropriate "in the exercise of its discretion and as a policy matter," as mentioned by the Motion.
The Motion also have done the bid for the lawsuit to be dropped with prejudice, meaning it cannot be filed again.
The SEC and Binance paused the action in February, and then again in April, saying that the agency's crypto unit could see the agency eventually drop the case.
The SEC sued Binance, Zhao and its US-based arm, BAM Trading, in June 2023, have alleged that they have violated securities law, and also mishandled customer's funds and have misled customers.
Thailand To Block Bybit, OKX And Other Crypto Exchanges On June 28
The Thai Securities and Exchange Commission (SEC) will be stopping five cryptocurrency exchanges, including Bybit and OKX, from operating in the country.
Announcement has been made on May 29, Bybit, 1000X, CoinEx, OKX and XT.COM will be blocked in the country from June 28. According to the information SEC said the measure aims "to protect investors and crack down on illegal platforms used for money laundering."
"The SEC advises all investors using these platforms to take necessary action regarding their assets before the shutdown date," the agency said.
The decision came into effect which follows Royal Decree on Measures for the Prevention and Suppression of Technology Crime,in Thailand on April 13. Under the Ministry of Digital Economy andSociety(MDES) holds the authority to block all unauthorized digital asset trading platforms.
In early April, amendments to emergency decrees on digital asset businesses and measures for cybercrime prevention have been approved by Thailand's Cabinet. The aim is to "deter and prevent" foreign crypto P2P service providers, as they are considered digital asset exchanges under Thailand's Digital Asset Business Law.
Stablecoin payment volume reaches $94B, driven by B2B Transfers
Stablecoins are gaining position as a reliable tool for digital payments. As per the new data from Artemis, $94.2 billion in stablecoin transactions were settled between January 2023 and February 2025.
According to Cointelegraph, the report also sheds light on a few specific areas that are rising in stablecoin payments. The largest block as per the report is Business-to-business transactions, accounting for an annual run rate of $36 billion. Card-linked stablecoin payments have also grown, jumping above $13.2 billion in annual volume.
The report notes, "Overall, stablecoins have established themselves as growing and significant components of the global payment infrastructure."
Tron and Ethereum ranked first and second respectively among the blockchains used for stablecoin payments,, with Binance Smart Chain coming in third. Tron and Ethereum are also notable in that the average business-to-business (B2B) transaction sizes for both chains exceeded $219,000. B2B transaction sizes on other blockchains were much smaller.
