The management of Nova Labs called this a major victory for both Helium and the entire crypto industry. The deviation of the SEC claim eliminates the uncertainty of the normative status of three Helium Network: Hnt, IoT and Mobile, which are now not considered securities.
Thus, the SEC has clarified the regulation of decentralized physical infrastructure networks (Depin) using incentives in cryptocurrencies: the sale of equipment and the distribution of tokens for the development of the network does not make them securities.
The commission filed a court for Nova Labs shortly before the resignation of the former SEC chairman Gary Gensler. The regulator accused the company of misleading crypto -investors and providing them with false statements about business partnerships. According to SEC, the company exaggerated partnerships with Nestle, Lime and Salesforce to attract investments of $ 1 billion.
Nova Labs did not recognize or deny offenses. The company agreed to resolve the accusations of the SEC and pay an administrative fine of $ 200,000. However, this fine did not mention in its recent publication Nova Labs.
Under the new administration, Donald Trump SEC closed cases against Coinbase, Kraken and Consensys cryptocurrencies. On April 10, Paul Atkins, a supporter of cryptocurrencies, was approved for the post of new chairman of SEC. It is expected that under his leadership the department will clarify the rules for regulating the crypto industry, which will contribute to the development of innovation.
Source: Bits
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