The SEC seeks to dismiss a lawsuit filed on March 25 by US apparel company Beba and DeFi Education Fund (DEF), which asks a Waco District Court judge to rule that the eponymous token issued by Beba is not a security. However, the SEC argues that the lawsuit is premature and is predicated on a (phantom) policy that does not currently exist. Beba's lawsuit claims that the SEC will find BEBA tokens to be securities and will sue the company because it "adopted, without notice or comment, a de facto ...