PANews reported on January 14 that according to The Block, the U.S. Supreme Court rejected the appeal of the cryptocurrency exchange Binance and its founder Zhao Changpeng (CZ) to review the lower court's ruling. Previously, the Second Circuit Court of Appeals ruled that although Binance did not have a physical headquarters, U.S. securities laws still applied to the exchange.

The case stems from the U.S. Securities and Exchange Commission (SEC) accusing Binance of illegally providing services to U.S. users since 2023. At the end of 2023, Binance pleaded guilty to multiple criminal charges and paid a $4.3 billion fine. In the appeal, Binance believed that the case had global implications and involved regulatory applicability issues in the digital asset industry, but the court upheld the original verdict on the grounds that the transaction took place on a U.S. server.