Svmuu News: Texas-based apparel company Beba and crypto advocacy group DeFi Education Fund have voluntarily withdrawn their 2024 lawsuit against the U.S. SEC regarding airdrops. The lawsuit had previously alleged that the SEC was regulating digital asset airdrops through enforcement actions without following formal rulemaking procedures, which allegedly violated the Administrative Procedure Act. The motion to dismiss noted that the progress made by the SEC’s Crypto Task Force and Commissioner Hester Peirce’s repeated public statements indicate a potential shift in the regulator’s stance on airdrops, including consideration of establishing an airdrop exemption framework and “safe harbor” mechanisms. The DeFi Education Fund stated that continuing the lawsuit under the current circumstances is no longer necessary. This dismissal is without prejudice, and the right to refile the lawsuit in the future remains reserved. (Cointelegraph)