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SEC drops Binance lawsuit

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The U.S. Securities and Exchange Commission has dropped a lawsuit filed against crypto company Binance under the Biden administration.

SEC officials said the agency believes it's “appropriate” to dismiss the lawsuit “in the exercise of its discretion and as a policy matter.”

The Biden administration levied allegations of mishandling customer funds and misleading U.S. regulators in the 2023 lawsuit against Binance.

Read more from Quartz.

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