🔥Hot News🔥The U.S. SEC is seeking to dismiss a lawsuit filed on March 25 by U.S. apparel company Beba and DeFi Education Fund (DEF). The lawsuit asks a judge to rule that the eponymous tokens issued by Beba are not securities. However, the SEC countered that the lawsuit is premature and based on a policy premise that does not exist. 🤔

Beba's lawsuit claims that the SEC will determine that its tokens are securities and will sue the company. This is because the SEC has adopted a de facto rule without notice or comment that the "vast majority" of digital assets "are securities." This is a reference to SEC Chairman Gary Gensler's remarks in 2022. 📜

However, the SEC said in its motion to dismiss the lawsuit that the lawsuit is based on a non-existent basis, namely a hypothetical policy that the SEC has never adopted and does not actually exist. The SEC said that Beba and DEF have not identified "rules, orders, or other commission actions that reflect the promulgation of the alleged policy." 👨‍⚖️

Beba and DEF jointly filed a lawsuit against the SEC, questioning the SEC's consideration of digital assets as securities. Beba hopes to clarify whether its free token issuance meets the conditions of securities trading to protect its business from SEC enforcement actions. The case was filed in Texas, highlighting the need for a clear regulatory framework for the rapidly developing digital asset industry. 🏛️