Amanda Tuminelli
@atuminelli
Today, we @fund-defi sued the SEC. It has everything to do with airdrops + stopping the SEC’s regulation by enforcement crusade against our industry.
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Amanda Tuminelli
@atuminelli
The complaint has two claims: 1)a DJA claim seeking a court order that Beba’s free airdrop of its $BEBA token is not a securities tx and $BEBA tokens themselves are not investment contracts. Because $BEBA tokens were given away for free, there was no “investment of money” by recipients of the airdrop.
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Amanda Tuminelli
@atuminelli
2) An APA claim by @fund-defi and Beba challenging the SEC’s unlawful adoption of its “nearly all digital assets are securities” policy. The APA requires the SEC to do rulemaking with opportunity for public notice and comment. The SEC has instead filed an huge number of enforcement actions against the industry.
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Amanda Tuminelli
@atuminelli
Read the complaint here: https://www.defieducationfund.org/_files/ugd/84ba66_3f7a8f2ca6614d7381122cb1beeed4a8.pdf
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