What an SEC No Action Letter Means for Solana DePIN Token DoubleZero

The US Securities and Stock Exchange Committee issued a “No Action” letter to Definzero on Monday, and actually based on the distinctive symbol 2Z of the project before it appeared on Solana.

in statementThe committee said it “will not recommend [an] An enforcement procedure against Doublezero, which was created last year, and constructed a fiber fiber fiber for fiber for fiber for Blockchains while using distinctive symbols to motivate participants.

The letter of the two vertebrae, which is made, indicated that based on its understanding of Definzero, it is not similar to the distinctive symbol of the security project 2Z security. This was the first time that SEC has evaluated such evaluation years ago, after a campaign against the symbolic exporters under the previous leadership.

Less than a week ago, Doublezero presented 17 pages letter To the committee, it is required to carry out “code transfers” for users participating in the network.

Former SEC President Gary Ginsner once Proposal “Everything except Bitcoin” is a safety in the Crepevory Ambassador, but the last agency’s move indicates that it believes that 2Z does not fall under its jurisdiction, according to Jack Graves, a professor at the Faculty of Law at the University of Cereakios.

“It creates, in fact, a safe port depends on a set of supposed facts,” Graves said Decipher. “It allows everyone to work with more clarity.”

It is expected that the Mainnet-Beta network will run from Doublezero on Friday. Users who contribute to the network resources are appointed to earn 2Z as a reward, with regard to their performance and timing. In the end, the symbol holders will be able to share 2Z, for each Doublezero Website.

The project was established by Austin Fedira, who was previously working as head of the Solana Foundation strategy. in statementHe said the decision “represents a prominent sign of the American digital assets” because it supports SEC’s talk about taking a more cooperative position.

“This is not only important for a single company-it is a kind of legal clarity and certainty that we need to launch a wave of innovation via decentralized networks,” said Miller Whitehaus Levin, CEO of the Solana Policy Institute. Decipher. “Non -movement messages are a practical bridge between builders and organizers.”

Doublezero is itself as a central, decentralized infrastructure, located under an umbrella Dimine. The concept revolves around the use of Blockchain to run and maintain decentralized networks of physical devices, such as sensors.

in statementSEC Hester People, which is at the heart of the efforts made at the committee level to update the rules of securities, described the way DePin projects are used as distinct compared to the assets that they usually organize.

She said: “These symbols are not shares of shares in a company, and are not promised with profits from the administrative efforts of others.” “They are functional incentives designed to encourage infrastructure building.”

Arie Tro, co -founder and CEO of DePin Project Xyo, told. Decipher The message was a welcome indication that the organizers began to identify the unique nature of these types of projects.

He said, “These projects are not accurately proportional to the traditional securities frameworks because they are not related to the increase in speculative capital, as they revolve around motivating people to build an infrastructure in the real world through participation and contribution.”

He added that the Depin networks will grow from a sector between 30 and 50 billion dollars today to 3.5 trillion dollars by 2028, according to the World Economic Forum (WEF) in the technological rapprochement report. “In order to achieve these capabilities, creators and societies must be able to work without the constant fear of bad organizational classification,” said True.

“The symbols in these contexts are not promises of fairness or profit.” “They are job rewards, compensate for the participants for their work, and help distribute infrastructure worldwide. Treating them as securities will suffocate innovation at a time when DePin proves its ability to reshape trillion dollars such as communications, logistics and energy.”

The Securities and Stock Exchange Commission had not issued any work messages for encryption projects before, but Graves said that the agency’s position on Monday is still “somewhat important.”

Remember a letter without taking action in 2019, which allowed a company called Turnkey Jet to provide distinctive symbols that can be used to recover private flights on request clearly.

“This is not something that the Supreme Education Council cares about,” he said. “But people who buy these symbols for private jet flights and operate a key delivery plane can all move with a degree of confidence that they will not face a problem in violating securities.”

SEC letter He emphasized many factors, including Turnkey Jet’s commitment to not financing the development of its platform through symbolic sales, setting restrictions on the ability of the distinctive symbol to transfer it, and consolidate marketing about the distinctive symbol function.

Doublezero Arise 28 million dollars in a “symbolic tour” this year, led by Multicoin Capital and Dragonfly. He – she receive More investment from Galaxy in August.

This step continues to shift in the position of the Supreme Council for Education towards digital assets, as recent months have witnessed that the organizational authority dates back to its most aggressive enforcement actions after President Trump returned to the White House.

Many prominent cases He was Decline Or narrowed, including against Coinbase, Ripple and Kraken.

Additional reports before Caln Quinn

Editor’s note: This story was updated after publishing to include an additional comments and context.