SEC issues ‘rare’ no-action letter for Solana DePIN project token FUSE

It comes several months after the SEC issued a similar no-action letter to DoubleZero, seen as a significant regulatory milestone for DePIN projects. 

The SEC has just issued its second “no-action letter” toward a decentralized physical infrastructure network (DePIN) crypto project in recent months, giving its native token “regulatory cover” from enforcement.

The no-action letter was sent to Solana DePIN project Fuse, which issues a network token FUSE as a reward to those actively maintaining the network and isn’t sold to the public.

Fuse initially submitted a letter to the SEC’s Division of Corporation Finance on Nov. 19, asking for official confirmation that it would not recommend the “SEC take enforcement action” if the project continues to offer and sell FUSE tokens.

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