Odaily Planet Daily reports that the Texas apparel company Beba and the crypto lobbying group DeFi Education Fund have voluntarily withdrawn their 2024 lawsuit against the U.S. SEC regarding airdrops. The lawsuit previously alleged that the SEC improperly regulated digital asset airdrops through enforcement actions without following formal rulemaking procedures, potentially violating the Administrative Procedure Act.
The dismissal filing states that the progress of the SEC’s Crypto Task Force and repeated public statements by Commissioner Hester Peirce suggest a potential shift in the regulator’s stance on airdrops, including consideration of an airdrop exemption framework and a “safe harbor” mechanism. The DeFi Education Fund stated that continuing the lawsuit under current circumstances is no longer necessary. This dismissal is without prejudice, preserving the right to refile the lawsuit in the future. (Cointelegraph)