On Twitter, crypto influencer Ian Balina expressed enthusiasm over a public legal fight with the U.S. Securities and Exchange Commission.
“Excited to take this fight public. This frivolous SEC charge sets a bad precedent for the entire crypto industry. If investing in a private sale with a discount is a crime, the entire crypto VC space is in trouble,” tweeted Balina, who claimed that he turned down a settlement with the agency “so they have to prove themselves.”
Balina previously called the agency’s action unfounded in a series of tweets on September 19, where he stated it “is the first time a private pre-sale purchase of a digital asset token has been accused of being “compensation” in exchange for publicity.” Balina published a full statement on his website.
The SEC on Monday filed charges against Balina over involvement in an initial coin offering for the “no-code” development startup, Sparkster. The U.S. securities regulator is seeking fines and disgorgement of financial gains.
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About Author
Jeremy Nation is a Senior Reporter at The Block covering the greater blockchain ecosystem. Prior to joining The Block, Jeremy worked as a product content specialist at Bullish and Block.one. He also served as a reporter for ETHNews. Follow him on Twitter @ETH_Nation.
Source: https://www.theblock.co/post/171433/ian-balina-on-sec-ico-lawsuit-excited-to-take-this-fight-public?utm_source=rss&utm_medium=rss