The US Securities and Exchange Commission has signalled that it won’t take enforcement action against tokens tied to blockchain-based Decentralized Physical Infrastructure Networks (DePIN).
In a no-action letter on Monday, SEC Division of Corporation Finance chief counsel Michael Seaman said he “will not recommend enforcement action” to the SEC for the planned token launch of the DePIN project DoubleZero.
SEC Commissioner Hester Peirce separately added that the “economic reality of DePIN projects differs fundamentally from the capital-raising transactions Congress charged this Commission with regulating.”
The rare no-action letter from the SEC is the agency’s latest example of its crypto enforcement rollback under the Trump administration, which has promised regulatory easing to attract companies and projects to the US.
DoubleZero’s token not a security
The SEC’s Seaman said the programmatic transfers that the DoubleZero…
