The Securities and Exchange Commission is letting digital asset influencer Ian Balina off the hook for his alleged promotion and sale of unregistered tokens, in the latest retreat from a Biden-era cryptocurrency-related enforcement action.
Balina agreed to abandon his appeal of the SEC’s partial win last year in the US District Court for the Western District of Texas, according to a joint filing with the court Thursday.
Judge David A. Ezra found in May 2024 that securities laws applied to SPRK tokens promoted by Balina, citing the influencer’s use of social media and solicitation of mostly domestic investors. That ruling ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.