SEC Drops Case Against BitClout Nader Al-Naji

The US Securities and Exchange Commission has dropped its two-year case against BitClout founder Nader Al-Naji. A joint dismissal stipulation was filed in the US District Court for the Southern District of New York last Thursday, with the SEC citing the crypto task force tasked with developing a regulatory framework for crypto in January 2025 and a "reassessment of the evidentiary record" as the basis for dismissal.

The regulator cautioned that this outcome does not guarantee similar treatment in other cases, writing, "The Commission’s decision to exercise its discretion and seek dismissal of this litigation is based on the particular facts and circumstances of this case and does not necessarily reflect the Commission’s position on any other case." Cointelegraph has contacted the SEC and the DeSo blockchain, where Al-Naji leads the foundation supporting the blockchain, for comment.

United States, Southern District of New York

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