The US Securities and Exchange Commission (SEC) has filed to drop its lawsuit against YouTuber Ian Balina regarding unregistered securities offers. In a joint stipulation with Balina filed on May 1, the SEC expressed that the dismissal is warranted, influenced by the re-prioritization of the agency's Crypto Task Force. While the SEC did not elaborate on the reasons for the dismissal, it noted this action does not reflect its stance on other cases. Balina, who leads Token Metrics and promotes cryptocurrency, had previously claimed that the SEC's decision indicated a shift towards a more pro-crypto environment under new leadership. The agency's legal actions against Balina stemmed from allegations related to the promotion of Sparkster (SPRK) tokens and the formation of an investment pool via Telegram in 2018, which were classified as unregistered securities offerings by the SEC. The court had ruled in the past that such token offerings fell under US securities laws. This dismissal is part of a broader trend, with the SEC reducing its enforcement actions against various crypto firms recently, signifying changes in regulatory priorities.

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