The US Securities and Exchange Commission (SEC) intends to dismiss its lawsuit against crypto influencer and YouTuber Ian Balina in connection with the sale of unregistered securities.
In a joint stipulation with Balina filed May 1 in federal court in Austin, the SEC stated that dismissal of the case was deemed appropriate, referencing the work of its Crypto Task Force.
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Although the SEC did not specify a reason for dropping the case, it clarified that this decision does not reflect its stance in other cases.
In March, Balina mentioned that the SEC notified him that it would recommend dismissing the case due to the agency's change in priorities.
The joint stipulation indicated that dismissing the case would also save court resources without imposing costs or fees on either party.