Crypto lobby group files court brief in support of lawsuit against SEC, seeking clarification on token airdrops

On October 29th, according to The Block, the Washington-based cryptocurrency lobby group filed an "amicus curiae" brief with the court, aiming to support Beba's lawsuit against the Securities Exchange Commission (SEC) in March this year, in order to obtain a clearer explanation of the legal status of token airdrops.
Beba and DeFi Education Fund sued the SEC in March this year, arguing that the token airdrop did not violate the Howey Test. Shortly after the lawsuit was filed, the SEC filed a motion to dismiss the lawsuit. The Blockchain Association and the Cryptocurrency Council asked the court to dismiss the motion and support the plaintiffs' request for relief.