加密產業對 SEC 提起先發制人的訴訟

加密產業在德州向美國證券交易委員會提起先發制人的訴訟，挑戰證券法的執行。 DEF 為 Beba 的空投行為辯護，稱其沒有違反規定，因為它不涉及金錢投資。這一大膽舉措對 SEC 的 Howey 測試標準提出了質疑，旨在為未來的加密貨幣舉措建立法律明確性。

Crypto Industry Takes on SEC with Preemptive Lawsuit

加密貨幣產業先發制人地向 SEC 發起訴訟

Why Now?

為什麼現在？

The crypto industry is taking a bold stance against the Securities and Exchange Commission (SEC) with a preemptive lawsuit filed in a Texas federal court. The DeFi Education Fund (DEF) is challenging the SEC's enforcement of securities law against Beba, a Texas-based apparel company that airdropped its BEBA crypto token to customers for free.

加密產業對美國證券交易委員會（SEC）採取了大膽的立場，向德州聯邦法院提起了先發制人的訴訟。 DeFi 教育基金 (DEF) 正在挑戰 SEC 對 Beba 執行證券法的行為，Beba 是一家總部位於德克薩斯州的服裝公司，該公司向客戶免費空投其 BEBA 加密代幣。

Beba's Airdrop: Legal or Not?

貝巴的空投：合法與否？

Beba's airdrop has not yet been targeted by the SEC, but DEF is seeking a court order declaring it legal. The suit argues that the airdrop did not violate U.S. securities laws because it did not involve an investment of money from counterparties. This is a key factor in the SEC's Howey Test, which is used to identify investment contracts.

Beba 的空投尚未成為 SEC 的目標，但 DEF 正在尋求法院命令宣布其合法。訴訟稱，空投並未違反美國證券法，因為它不涉及交易對手的資金投資。這是美國證券交易委員會豪伊測試的關鍵因素，該測試用於識別投資合約。

SEC's Enforcement Actions: Overzealous or Justified?

SEC 的執法行動：過度熱心還是合理？

The crypto industry has historically been on the defensive against SEC lawsuits. However, DEF's lawsuit marks a shift in strategy. Amanda Tuminelli, DEF's Chief Legal Officer, believes the SEC has abused its power by targeting the industry without clear guidance.

加密產業歷來一直對美國證券交易委員會的訴訟採取防禦措施。然而，DEF 的訴訟標誌著策略的轉變。 DEF 首席法務官 Amanda Tuminelli 認為，SEC 在沒有明確指導的情況下針對該行業濫用了權力。

Unofficial SEC Policies: Violation of the APA?

非官方 SEC 政策：違反 APA？

DEF alleges that the SEC has violated the Administrative Procedures Act (APA) by creating unofficial, internal policies about crypto without disclosing them publicly. The SEC maintains that it is enforcing existing securities laws, but DEF argues that its actions constitute a new policy that should have been subject to public notice and comment.

DEF 聲稱 SEC 在未公開披露的情況下制定了有關加密貨幣的非官方內部政策，從而違反了《行政程序法》(APA)。 SEC 堅稱其正在執行現有的證券法，但 DEF 辯稱，其行為構成了一項本應接受公眾通知和評論的新政策。

Crypto Firms Suing the SEC: A Tactical Advantage?

加密貨幣公司起訴 SEC：戰術優勢？

The SEC has been aggressively pursuing legal action against crypto companies for years. Why are crypto firms only now opting for offensive lawsuits? Tuminelli suggests that the risks for companies like Beba may be so evident that it's worth attracting the SEC's ire preemptively.

多年來，美國證券交易委員會一直積極對加密貨幣公司採取法律行動。為什麼加密貨幣公司現在才選擇進攻訴訟？圖米內利表示，像 Beba 這樣的公司面臨的風險可能非常明顯，值得先發制人地引起 SEC 的憤怒。

Historical Precedents: SEC's Targeting of Crypto Firms

歷史先例：美國證券交易委員會針對加密貨幣公司

The SEC has targeted crypto firms similar to Beba in the past. In 2018, it sued Tomahawk Exploration LLC for distributing "Tomahawkcoins" without raising any money. In 2022, it sued Hydrogen Technology Corporation for distributing free "Hydro" tokens and creating a secondary market.

SEC 過去曾針對與 Beba 類似的加密貨幣公司。 2018年，它起訴Tomahawk Exploration LLC在未籌集任何資金的情況下分發“Tomahawkcoins”。 2022年，它起訴氫科技公司分發免費的“Hydro”代幣並創建二級市場。

Legal Expert's Perspective: Airdrops Outside SEC's Jurisdiction?

法律專家的觀點：空投超出了 SEC 的管轄範圍？

University of Kentucky law professor Brian L. Frye believes DEF has made a "solid case" that airdrops fall outside the SEC's jurisdiction. He argues that the SEC is not claiming to make a new rule for crypto but rather regulating under its existing authority. However, he believes DEF's claims about the SEC violating the APA may be more difficult to prove.

肯塔基大學法學教授布萊恩·L·弗萊 (Brian L. Frye) 認為，DEF 已經提出了“可靠的證據”，證明空投不屬於 SEC 的管轄範圍。他認為，美國證券交易委員會並不是聲稱要為加密貨幣制定新規則，而是要根據其現有權力進行監管。不過，他認為 DEF 關於 SEC 違反 APA 的說法可能更難證明。