#SaylorBTCPurchase The SEC is seeking to withdraw its lawsuit against YouTuber Ian Balina for the sale of unregistered securities, in the agency's latest move to reduce its enforcement actions.
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The U.S. Securities and Exchange Commission has requested to dismiss another of its lawsuits related to cryptocurrencies, this time the case against crypto influencer and YouTuber Ian Balina for the sale of unregistered securities.
The Commission indicated in a joint stipulation with Balina filed on May 1 before a federal court in Austin that it "considers that the dismissal of this case is appropriate," citing the work of its Cryptocurrency Working Group.
The agency did not provide a reason for wanting to dismiss the case, but clarified that its decision "does not necessarily reflect the Commission's position in any other case."
Balina informed Cointelegraph in March that the Commission had communicated to him that it would recommend to the court to dismiss the case and stated that the agency's actions were based on a shift in its priorities.
"Obviously, the new administration is pro-cryptocurrency," Balina said. The Commission has experienced a change in its leadership under U.S. President Donald Trump, who appointed former cryptocurrency lobbyist Paul Atkins as the agency's chairman.
The joint stipulation argued that a dismissal would also conserve the court's resources "without costs or fees to either party."
Balina is the CEO of Token Metrics, a crypto influencer with 140,000 followers on X and a YouTuber whom the Commission accused of improperly promoting cryptocurrency projects, particularly during the initial coin offering (ICO) boom around 2017.
