DeFi Group, Apparel Company Drop SEC Crypto Policy Challenge

A digital asset industry group and a small apparel company that sued the SEC over its Biden-era crypto policy opted to drop their challenge, saying they expect the regulator to publish guidance allowing free token “airdrops” into customers’ digital wallets.

Comments last year from Commissioner Hester Peirce, who leads the Securities and Exchange Commission’s crypto task force, about a potential exemption for airdrops prompted DeFi Education Fund and Beba LLC to voluntarily dismiss their case, according to a March 13 filing in the US District Court for the Western District of Texas.

DEF and Waco, Texas-based Beba, which created its ...