Good news came from the USA for Binance, the world's largest cryptocurrency exchange.
According to Bloomberg, the Florida Court of Appeals overturned the Binance ban.
Accordingly, the First District Court of Appeal in Florida overturned the ban on Binance on May 22 with a unanimous decision.
In its decision, the court said state regulators did not follow proper procedures when banning Binance in November 2023.
The court ruled that Binance's operations in the state could not be blocked under the emergency cease-and-desist order issued by the Florida Office of Financial Regulation.
The Court of Appeals also stated that the Florida Office of Financial Regulation did not consider CZ's conduct to be grounds for suspending the license of Binance's Florida subsidiary.
Florida regulators' decision to suspend Binance came after former Binance CEO Changpeng Zhao pleaded guilty to criminal charges.
*This is not investment advice.
