The US Securities and Exchange Commission has filed to drop another of its crypto demands, at this time the unregistered case of sale of security against the Crypto Influencer and YouTuber Ian Balina.
The SEC told a joint stipulation of May 1 with Balina in an Austin Federal Court “believed that the dismissal of this case was appropriate,” citing the agency’s crypto force force.
The agency did not give a reason to want to eliminate its case, but its decision said that “it does not have to reflect the commission’s position in any other case.”
Balina told Cointelegraph in March that the SEC had Know him It recommends that the court delete the case and claim the agency’s actions are based on a transfer to agency’s priorities.
“Obviously, the new administration is pro-crypto,” Balina said. The SEC has seen a change in leadership under US president Donald Trump, who appointed former crypto lobbyist Paul Atkins to lead the agency.
The joint contention has argued a dismissal will also take care of court resources “at no cost or fee for either party.”
Balina is the CEO of token Metrics, a crypto influencer with 140,000 followers in X, and a Youtuber accused by the SEC improperly promoting crypto projects, especially during the initial coin offering (Ico) Boom Circa 2017.
The SEC accused Balina in 2022, allegedly conducting an unregistered security who offered Sparkster (SPRK) tokens when she was forming a pool pool on the telegram in 2018.
SEC claimed that US -based investors participate in Balina’s investment pool, using Ether (Eth), which is proven by a network of nodes “which is strongly thicker in the United States than in any other country.”
Related: SEC has dropped the investigation into PayPal’s stablecoin
The court boarded the SEC and, in May 2024, ruled that SPRK is an investment contract Under US security laws, where investors are making money in a common business that relies on income because of the efforts of others.
Shift in crypto policy
The move is the latest in a long list of court-related actions that the SEC has stopped under the favorable stance of the Trump administration toward the industry.
Last month, it collapsed many cases and abandoned many investigations against crypto companies, including against Coinbase, Ripple, Kraken, Opensea, and Stablecoin of Paypal.
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