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The creators of the BEBA token have withdrawn their lawsuit against the U.S. regulator., 2026/03/17 11:52:11
The Texas-based firm Beba and the DeFi Education Fund (DEF) have withdrawn their lawsuit against the U.S. Securities and Exchange Commission (SEC) concerning the BEBA token airdrop.
In a statement regarding the voluntary dismissal of the case submitted to the Western District Court of Texas, the plaintiffs clarified that their decision was influenced by a shift in the regulator’s stance on cryptocurrencies. Specifically, the SEC has established a working group focused on crypto assets, which is tasked with developing regulatory guidelines for the sector.
The plaintiffs also referenced comments made by SEC Commissioner Hester Peirce regarding the potential introduction of a separate framework under which tokens distributed via airdrops would not be classified as securities.
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“In light of the efforts made by the SEC’s crypto task force, we have opted not to pursue litigation. We anticipate that the regulator will provide clarity on issues related to token distributions. Should such clarifications not be forthcoming or prove inadequate, we reserve the right to refile our lawsuit,” stated DEF.
In March 2024, Beba conducted an airdrop of BEBA tokens. That same year, in collaboration with DEF, it initiated legal action against the SEC, concerned that the regulator might classify the tokens as unregistered securities. The lawsuit claimed that the SEC was attempting to regulate digital assets without issuing clear rules for issuers, thereby violating the Administrative Procedure Act (APA).
Under former SEC Chairman Gary Gensler, the regulator actively enforced measures against crypto companies, including lawsuits and fines for violations of securities laws. Following his resignation in January 2025 and the appointment of new Chairman Paul Atkins, the SEC reduced the number of claims against crypto platforms, including the cessation of several investigations, notably involving the Gemini exchange.
Recently, the SEC also terminated a two-year case against Nader Al-Naji, the founder of the decentralized social network BitClout, who had previously been suspected of illegally raising $257 million through the sale of the BTCLT token and misusing a portion of the funds for personal purposes.
