SEC Announced That 3 Altcoins Are Not Securities: The Giant Company's Case Was Dismissed! - Coin Bulletin

The Securities and Exchange Commission of the United States (SEC) dismissed the case requesting the classification of HNT, IOT, and MOBILE tokens belonging to the Helium network as securities.

The Helium network is a blockchain platform developed by Nova Labs and had faced a lawsuit previously filed by the SEC. The SEC had classified HNT, IOT, and MOBILE tokens as unregistered securities. However, according to the statement made, the SEC has waived the lawsuit regarding the classification of these tokens as securities. Nova Labs stated that the SEC does not classify the tokens as securities, and this is a turning point for the Helium community.

Helium announced that all Helium Hotspots and HNT, IOT, MOBILE tokens are not considered securities following this lawsuit process, and that this situation means the token distribution aimed at the growth of the network cannot be classified as securities. This development is regarded as an important step for the Helium community and the crypto industry.

SEC's retreat from legal actions

This case was filed just before the departure of former SEC chairman Gary Gensler. However, during Donald Trump's presidency, the SEC had ended its legal actions against crypto companies, and many cases, including the Helium project, had been rolled back during this process.

Legal clarity for Helium and DePIN projects

Helium's legal victory is seen as an important development for other decentralized networks and blockchain projects. This decision may help reduce legal uncertainties regarding future DePIN (Decentralized Physical Infrastructure Networks) projects.