Token statistics CEO Ian Balina said on Wednesday that the SEC is expected to drop his case against him, so that a three -year legal battle for accusations would be terminated, he has broken the American securities laws.
“It’s official: the SEC drops his case against me,” tweeted Balina. “This was never just about me – it’s about honesty in crypto.”
The charges of Balina stem from an order of September 2022 that claimed that he did not receive that was received while promoting the first currency range of the Sparkster (SPRK).
Support the claim of the CEO, token statistics tweeted On Monday, the charges were “withdrawn”, and added that “a possible shift in enforcement trends” was underway.
It is worth noting that the SEC still has to provide an official statement on this issue. The SEC and Balina did not respond immediately Decrypts Request for comments.
The SEC has not officially updated the status of the case since September 2022, when he announced Sparkster and his CEO, Sajjad Daya, organized For $ 35 million.
“This frivolous sec -loading is a bad precedent for the entire crypto industry,” Balina said at the time. “If investing in a private sale with a discount is a crime, the entire crypto VC room is in trouble.”
The SEC complaint claimed that Balina received a 30% bonus about his investment of $ 5 million in SPRK -Tokens, but never announced this consideration when promoting the tokens to its substantial subsequent social media.
In May 2024, a judge ruled SPRK Tokens qualified as effects under the purview of the sec.
If confirmed by the regulator, the dismissal would follow various recent SEC decisions to give up things against Crypto companies, because President Trump appointed Mark Uyeda as acting SEC chairman after the departure of Gary Gsler.
Until now, the sec has rejected a few cases Including accusations of violations of effects against crypto companies, including Binance, Coinbase, OpenSea, Robinhood, Uniswap, Gemini and Kraken, among others.
Published by Sebastian Sinclair
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