Gate News: On March 17, the well-known lobbying group DeFi Education Fund and the Texas-based clothing company Beba voluntarily withdrew their lawsuit against the U.S. Securities and Exchange Commission (SEC). The lawsuit, filed in 2024, aimed to challenge the SEC’s digital asset enforcement policies that were developed without formal notice and comment procedures.
The withdrawal reflects a significant shift in the SEC’s regulatory stance. Under new leadership, the SEC has adopted a more lenient approach toward the cryptocurrency industry, especially showing an open attitude toward airdrops. Commissioner Hester Peirce previously stated that airdrops might not be subject to securities laws, and the SEC’s Cryptocurrency Enforcement Task Force is exploring a framework for airdrop exemptions, providing a policy basis for the withdrawal. The DeFi Education Fund announced on X that, given the proactive actions of the regulatory task force, there is currently no need to continue the lawsuit, but they may refile in the future.
During Gary Gensler’s tenure, the SEC prioritized enforcement, leading to multiple cases against major digital asset exchanges and DeFi protocols, with limited focus on clear rules and regulatory guidance. Now, leaders who are pro-cryptocurrency emphasize legislation and industry dialogue. Most pending cases have been dismissed or settled, indicating that the regulatory environment is gradually improving.
This withdrawal is seen as an important signal in the U.S. crypto ecosystem. Industry insiders believe that as SEC’s policies on cryptocurrencies become clearer and more flexible, DeFi projects and digital asset airdrops may gain more legal certainty. It could also encourage more institutions and innovative teams to expand their crypto activities within compliant frameworks.
Currently, market participants continue to monitor the SEC’s future policies on airdrops, DeFi protocols, and emerging digital assets, which will directly impact the market sentiment and investment strategies for Bitcoin, Ethereum, and other mainstream cryptocurrencies.
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