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Crypto Groups Challenge US SEC on Airdrop Rules In Ongoing Court Case—Details

Bitcoinist LogoBitcoinist1d ago

Crypto Groups Challenge US SEC on Airdrop Rules In Ongoing Court Case—Details - Bitcoinist

Quick Summary:

A recent legal dispute surrounding token airdrops has gathered the support of prominent crypto lobbying organizations, including the Blockchain Association and the Crypto Council for Innovation.These Washington, D.C.-based lobbying groups have filed an “amicus brief” backing apparel brand Beba in its lawsuit against the US Securities and Exchange Commission (SEC).

By this measure, the plaintiffs contend that airdrops lack an “investment of money,” as tokens are typically distributed for free without expecting profit.

Specifically, they emphasize that airdrops involve no direct investment, which they claim nullifies the applicability of securities laws in this context.


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Article Details

Author / Journalist: Samuel Edyme

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 10:30:15 (1 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 462 words

Reading Time: 3 minutes read

Sentences: 27 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 23337332

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About Bitcoinist

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Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 12 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #105

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The story "Crypto Groups Challenge US SEC on Airdrop Rules In Ongoing Court Case—Details" was covered 1 days ago by Bitcoinist, a news publisher based in Hungary.

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  • URL: https://beamstart.com/news/crypto-groups-challenge-us-sec-17302844556352

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