The Institutional Finance Department of the American Securities and Stock Exchange Committee sent a letter without taking action to the DePin Doublezero project regarding the distribution of the distinctive symbol, 2Z.
What does the message say
In this letterSEC indicated that it will not follow enforcement procedures as long as the code of the distinctive symbol is carried out as shown, and provided that 2Z is not registered as a category of stocks of shares under the exchange law.
It is important to understand that second It clearly states that relief is not a comprehensive legal opinion; Any facts or circumstances can lead to a different result.
The letter also shows that 2Z should not be recorded as a category of stock of shares under Article 12 (G) of the Stock Exchange Law, and that the specific conditions do not require transportation operations to register under Article 5 of the Securities Law.
Doublezero Model
Doublezero It is a high -performance fiber network that uses non -independent fiber connections from independent shareholders. Its task is to provide faster and more direct or direct direction to Blockchain knot operators compared to the general internet.
In its introduction SEC, Doublezero has proposed two “programming” methods to distribute symbols:
- Provide payments: This is compensation for network operators who provide reliable and high -quality connection.
- Account payments: This includes the payment of resource service providers who run the notebooks, verify the validity of the standards, and calculate payments throughout the network.
More news: Hester Pears says SEC is open to distinguished assets
Why this matters
The main issue offered is whether the new encryption codes are included under the Securities Law – specifically, the Howe Test, which studies whether the distinctive symbol involves an investment of money in a joint institution with the expectation of profits from the efforts of others.
In her general comments, SEC Hester People Commissioner stressed the importance of distinguishing between distinctive symbols or distribution and securities.
I claimed that distinctive symbols such as 2Z, which act as incentives or operating mechanisms instead of speculative tools, may not be classified as securities.
Pears also expressed that forcing all symbolic activities on the stock framework can hinder innovation.
Restrictions and caution
Non -movement discourse is a great victory for Definezero, but it is not a free pass. SEC clearly stated that any changes in facts or behavior can lead to enforcement procedures.
This relief applies to 2Z only as shown and does not cover previous or unrelated symbolic activities.
Industry observers warn that other projects should not see this as a guarantee unless it corresponds to operational and transparent clarity.
SEC indulgence depends on the integration of the distinctive symbol in a network without its marketing as a speculative origin.
