On October 29th, according to The Block, a cryptocurrency lobbying group based in Washington submitted a "friend of the court" brief to support Beba's lawsuit against the U.S. Securities and Exchange Commission (SEC) in March of this year, with the aim of seeking a clearer interpretation of the legal status of token airdrops. Beba and DeFi Education Fund sued the SEC in March of this year, arguing that token airdrops do not violate the Howey Test, and shortly after the lawsuit was filed, the SEC filed a motion to dismiss the lawsuit. The Blockchain Association and the Cryptocurrency Committee requested that the court reject the motion and support the plaintiff's relief request.
