SEC Drops Unregistered Securities Case Against Nova Labs

Nova Labs, the company behind the Helium network, has announced a significant win. The SEC has agreed to drop its case, preventing future action.

The case alleged that Nova Labs sold securities without registering them. The latest resolution establishes that Helium hotspots and the distribution of HNT, IOT, and MOBILE tokens within the Helium network are not classified as securities.

Nova Labs Wins Major Victory

This critical decision is a significant change for the Helium community and the wider crypto industry, especially for projects building real-world infrastructure. The dismissal eliminates many legal doubts that have troubled these projects, often using crypto rewards to build their networks.

By dismissing the claims about unregistered securities, the SEC’s action suggests that simply selling equipment and giving out tokens to help the network grow does not automatically break securities laws.

In a statement on its official page on April 11th, Helium called the result “a major win for Helium and The People’s Network.” The resolution clears up long-standing confusion about the regulatory status of the network’s primary tokens: HNT, IOT, and MOBILE. The dismissal “with prejudice” means that the SEC cannot file the exact charges again, providing some certainty for the project and its users.

Helium believes this positive development is due to the agency’s new leaders, who have clarified the regulation of crypto infrastructure projects.

“We thank the new leadership at the SEC for finally providing clarity and look forward to a new era where innovation can truly thrive. With this chapter finally closed, Helium and the community can move forward with full confidence, accelerating adoption and real-world innovation in decentralized wireless and crypto-powered infrastructure,” Helium Network states.

Helium (HNT) Price Surge

After the announcement, the price of $HNT, jumped by over 10%. Moreover, Helium (HNT) trading volume is over $15 million, representing a 20.50% increase from the previous day, showing more market activity recently.

Notably, HNT reached a high of $54.88 and a low of $0.1132. According to CoinGecko data, it is now trading 94.54% lower than its highest point and 2,546.15% higher than its lowest price.

In the past week, Helium (HNT) has gone up by 7.60%, better than the overall cryptocurrency market, which has dropped by -4.40%. It also performs better than similar Coinbase 50 Index cryptocurrencies, which have stayed the same (0.00%).

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