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SEC Wins Case Against YouTuber Ian Balina for Unregistered SPRK Token

May 23, 2024, 11:41 PM

Crypto influencer and YouTuber Ian Balina has been found to have violated US securities law by selling and offering to sell the SPRK token, which a federal judge ruled was an unregistered security. The Securities and Exchange Commission (SEC) successfully won the case against Balina, who promoted an unregistered cryptocurrency ICO in 2018. The court's decision, made on 2024-05-23, sided with the SEC, marking a significant victory for the regulatory body in its efforts to enforce securities laws within the crypto space.