SEC clears DePIN tokens as ‘fundamentally’ outside jurisdiction
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The SEC backed off from DePIN tokens in a rare no-action letter, as the agency’s top brass says it’s not meant to “regulate all economic activity.”
The US Securities and Exchange Commission has signalled that it won’t take enforcement action against tokens tied to blockchain-based Decentralized Physical Infrastructure Networks (DePIN).
In a no-action letter on Monday, SEC Division of Corporation Finance chief counsel Michael Seaman said he “will not recommend enforcement action” to the SEC for the planned token launch of the DePIN project DoubleZero.
SEC Commissioner Hester Peirce separately added that the “economic reality of DePIN projects differs fundamentally from the capital-raising transactions Congress charged this Commission with regulating.”
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