DeFi Education Fund
@fund-defi
🚀 Today, the DeFi Education Fund & Beba sued the SEC🚀 The crypto industry is facing an existential threat from an overzealous regulator who is abusing its power by targeting our industry through unending aggressive enforcement actions. It’s time for the court to put an end to it.
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DeFi Education Fund
@fund-defi
2️⃣ In the lawsuit, we seek relief on two claims: Beba, an apparel company based in TX, brings a Declaratory Judgement Act claim asking the court to rule that $BEBA tokens are not themselves investment contracts & its free airdrop of $BEBA tokens for marketing purposes is not a securities transaction.
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DeFi Education Fund
@fund-defi
3️⃣ Together with Beba, DEF seeks a declaration from the Court that the SEC violated the Administrative Procedure Act when they adopted their policy that nearly all digital assets themselves are investment contracts and nearly all digital asset transactions are securities transactions.
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DeFi Education Fund
@fund-defi
4️⃣ Success here is pretty straightforward. If the court here rules that the SEC’s approach to crypto has violated the APA, this case would present a massive barrier to the SEC’s continued campaign of regulatory overreach.
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DeFi Education Fund
@fund-defi
5️⃣ And if the court rules that $BEBA tokens are not investment contracts and free airdrops are not securities transactions, it will provide much needed clarity to the industry.
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DeFi Education Fund
@fund-defi
6️⃣ Be sure to check out our full complaint at the link below. https://www.defieducationfund.org/_files/ugd/84ba66_3f7a8f2ca6614d7381122cb1beeed4a8.pdf
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