The US Securities and Exchange Commission has scrapped a civil case against the founder of decentralized crypto social network BitClout.

Court documents filed this week show that Nader Al-Naji will not pay any penalties and that the case has been dismissed with prejudice, citing the SEC’s new crypto task force as one of the reasons for dismissal.

“On January 21, 2025, the Commission’s then Acting Chairman Mark T. Uyeda launched a crypto task force dedicated to helping the Commission develop a regulatory framework for crypto assets,” the document read.

The dismissal comes after US regulators have scrapped a number of lawsuits against top crypto companies, including Coinbase, Binance, and Ripple since President Donald…