The US Securities and Exchange Commission (SEC) dismissed its lawsuit against cryptocurrency exchange Binance, dealing a significant blow to the Biden-era regulatory efforts aimed at the digital-asset industry. The move is seen as a major victory for the crypto community.
Binance hailed the decision as a “huge win” in a statement on X, thanking the SEC Chairman and the Trump administration for pushing back against regulation through enforcement. A joint filing between the SEC, Binance, and former CEO Changpeng Zhao acknowledged the regulator’s efforts to develop a regulatory framework for cryptocurrencies.
The dismissal comes as the US House of Representatives introduced the Digital Asset Market Clarity (CLARITY) Act, which aims to establish a regulatory framework for digital assets in the United States. This legislation follows the Senate’s advancement of stablecoin regulations last week.
Industry analysts attribute the recent surge in cryptocurrency prices to an improving regulatory landscape, increased investment inflows, and positive macroeconomic factors. Bitcoin has gained over 50% in the past 12 months, while Ether has seen a significant increase of 45%.
Source: https://www.barrons.com/articles/bitcoin-price-xrp-ether-house-bill-sec-binance-3d42bd61