SEC Dropping Enforcement Case Against Binance Crypto Exchange

The US Securities and Exchange Commission moved to end its legal battle against crypto exchange Binance Holdings Ltd., the latest sign of the regulator’s dramatic shift in how it polices cryptocurrency.

The regulator and the exchange’s co-founder Changpeng Zhao filed a joint motion on Thursday to stay the case in the US District Court for the District of Columbia. The move follows a joint request in Februaryto pause the lawsuit for 60 days.

At the time, the SEC and Zhao said then-Acting Chairman Mark Uyeda’s formation of a special agency task force to set crypto regulatory policy ...