The US SEC is seeking to dismiss a lawsuit filed by Beba, a US clothing company, and DeFi Education Fund (DEF) on March 25th, which seeks a judge in the Western District of Texas to rule that the same-name token issued by Beba is not a security. However, the SEC argues that the lawsuit is premature and based on a phantom policy that does not currently exist. Beba's lawsuit claims that the SEC will classify the BEBA token as a security and sue the company because it "adopted a de facto rule that the 'vast majority' of digital assets are securities without notice or comment," citing Chairman Gary Gensler's comments in 2022.
SEC seeks to dismiss lawsuit against apparel companies Beba and DEF alleging their tokens are not se
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