Ian Balina on SEC ICO lawsuit: 'Excited to take this fight public'

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.