TechFlow news: The DeFi Education Fund and Texas-based apparel company Beba LLC have jointly filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) to clarify the status of airdrops as non-securities offerings.
Court filings on March 25 emphasized the need to halt the SEC's regulatory actions, which the two entities argue constitute excessive interference in an emerging industry.
"The crypto industry is facing an existential threat from an overzealous regulator that is abusing its authority by targeting our industry through relentless enforcement actions. It's time for the courts to put an end to this," they stated.
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