SEC files to drop crypto promo case against YouTuber Ian Balina
The US Securities and Exchange Commission (SEC) has filed to dismiss its case against crypto influencer Ian Balina, related to unregistered securities sales. The SEC believes dismissal is appropriate, citing the agency's Crypto Task Force, but did not provide specific reasons. Balina stated that the SEC's decision reflects a shift in the agency's priorities under new leadership, which is perceived as pro-crypto. The joint stipulation for dismissal aims to conserve court resources without costs to either party. Balina, CEO of Token Metrics, was accused of improperly promoting crypto projects during the 2017 ICO boom and faced allegations of conducting an unregistered securities offering of Sparkster (SPRK) tokens. The SEC's recent actions indicate a trend of dropping multiple crypto-related cases under the current administration, including investigations against firms like Coinbase and Ripple.
