- The Securities and Stock Exchange Commission issued a letter without taking action to the Doublezero DePin project regarding the 2Z symbol.
- The ruling wipes the way to transfer the distinctive code 2Z without registration as stock papers.
- The decision indicates that job symbols that are used as operational incentives may not be considered, investment contracts.
the The American Securities and Stock Exchange Committee The Corporate Finance Department issued a letter without taking a procedure to the Project (DePin) project (DePin), which wipes the way for code for the 2Z symbol.
In the letter, Absolute On Monday, Michael Ciman, the chief adviser to the corporate institution, said that the organizer will not object to the planned distribution of the Doublezero 2z code, provided that the transportation operations occur as shown by the project and without registration as securities for shares.
The statement stressed that the situation applies only to the specific facts presented.
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An industry milestone
Commissioner Hester Pearce He said The issue highlights that the DEPIN networks are usually different from capital raising plans by the Supreme Education Council, on the pretext that the symbols designed to coordinate the domain, storage or other resources act as operational incentives instead of investment contracts. Moreover, General Counselor Mary Tomonin said that when the value of the distinctive symbol of the user’s activity stems across the network, the Howe Test does not apply.
In this sense, Doublezero collects special light fiber links to provide faster directive to Blockchain operators, and participants who provide contact with 2Z symbols will be compensated.
The protocol is preparing to launch Mainnet-Beta later this week. Participating founder Austin Fedira He said The result proves to us that encryption teams can work with organizers to gain clarity without sacrificing speed.
Pierce said that the decision indicates that the Supreme Education Council can “respect the boundaries of Congress” on its authority while leaving the builders free to focus on spreading the infrastructure rather than analyzing the Securities Law. It warned that processing job symbols as securities would suffocate the development of physical networks designed to support Blockchain systems.
The decision also follows the launch of SEC for The encryption projectAn initiative aimed at sharing deeper with the industry in instructions.
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