SEC Drops Cases Against Binance and Coinbase

SEC dismisses lawsuits against Binance and Coinbase

The U.S. Securities and Exchange Commission has dismissed its landmark enforcement actions against Binance and Coinbase, ending nearly two years of litigation under former Chair Gary Gensler's "regulation by enforcement" approach. The dismissals—with prejudice—mark a decisive policy reversal under new SEC Chair Paul Atkins, who has now closed 12+ major crypto cases since early 2025.

Binance called the dismissal "a landmark moment" that validates its compliance overhaul, while Coinbase and other defendants expressed relief after years of legal uncertainty. Bitcoin surged 8% toward ＄92,000 following the news, and total crypto market capitalization added ＄180 billion. The regulatory reset clears hurdles for altcoin spot ETFs and stablecoin legislation, positioning the U.S. to reclaim crypto leadership from offshore hubs.

See announcement: https://www.reuters.com/sustainability/boards-policy-regulation/us-sec-voluntarily-dismisses-lawsuit-against-binance-2025-05-29/

UK designates cryptoasset exchanges including HTX

The UK has sanctioned 18 crypto exchanges, banks, and individuals for helping Russia bypass international trade blockades using digital assets. The package targets the A7 network, a group of companies that claimed to move ＄90 billion into Russia's economy using crypto in 2025.

HTX (formerly Huobi), one of the world's largest crypto exchanges with ＄3.3 trillion in trading volume last year, is suspected of channeling over ＄1.5 billion to Russia through flows to previously sanctioned entities like Grinex and Garantex. This marks the first time the UK has applied Regulation 17A to cryptoasset exchanges, prohibiting UK institutions from maintaining correspondent relationships or processing payments involving designated entities.

Other sanctioned platforms include EXMO Exchange, Rapira Group, and Bitpapa, all connected to the sanctioned exchange ecosystem. The action follows the EU's broader sectoral ban on the Russian and Belarusian crypto economy, increasing pressure on financial infrastructure supporting Russia's war efforts.

See announcement: https://www.gov.uk/government/news/uk-cracks-down-on-backdoor-russian-sanctions-evasion-with-tough-new-measures

OKX launches Exchange OS

OKX has introduced Exchange OS, a protocol upgrade built on X Layer that enables developers, institutions, and ecosystem participants to deploy spot, perpetuals, and outcome markets using the same institutional-grade infrastructure that powers OKX. The first venue built on Exchange OS will launch in June with 2026 World Cup Outcomes, a prediction market.

Exchange OS addresses fragmented infrastructure in onchain finance by moving core exchange functions—matching, margining, liquidation, settlement, and risk management—to the protocol layer. Developers can deploy trading venues permissionlessly through the X Layer Improvement Proposal (XIP-Exchange OS), choosing their own assets, oracle systems, revenue models, and compliance frameworks. The platform supports up to 300,000 TPS with millisecond-level matching latency.

See whitepaper: https://web3.okx.com/whitepaper/okx-exchange-os.pdf

About 1Token:

1Token is a digital asset investment management platform providing Crypto PMS, RMS, and Portfolio Accounting Software, managing over $20 billion in assets for more than 100 clients worldwide.

All-in-one support designed for allocators, portfolio managers, treasury managers and fund operations and accountants, seeking transparency and control.

• Front office (portfolio managers and traders) to view live position and exposure, calculate trading PnL and historical performance.
• Middle office (ops and risk) to maintain portfolios and API accounts, book OTC trades, monitor risk metrics and analyze VaR/STV, generate shadow NAV with investor subscription/redemption/dividend.
• Back office (admin and auditors) to collect and reconcile trades, generate valuation and PnL reporting under FIFO/WAC tax strategy.