SEC признает DePIN-токены вне своей юрисдикции, открывая новые горизонты для блокчейн-инициатив Translation: SEC recognizes DePIN tokens outside its jurisdiction, opening new horizons for blockchain initiatives.

DePIN tokens are not classified as securities, thus falling outside the jurisdiction of the SEC. This was stated in a letter from the regulator directed to the DoubleZero project.

Michael Siman, the chief legal officer of the SEC’s Division of Corporation Finance, indicated that he would not recommend any action against the anticipated launch of the 2Z token. He asserted that the coin does not require registration as a security under U.S. law.

The DoubleZero team elaborated that their protocol grants blockchain systems access to «underutilized private fiber optic lines,» which are maintained by network participants. These participants will be the recipients of the 2Z coins.

Austin Federa, a co-founder of the project, described the SEC’s decision as evidence of the possibility for constructive dialogue between regulators and crypto projects.

«The SEC’s ruling on the 2Z token model is a precedent that is significant not just for DoubleZero, but it shows that there can be a legal framework in America for tokens that not only comply with regulatory norms but are also integral to the operation of blockchain systems that provide real benefits,» he stated.

The news was met with positive reactions from the community. Congratulations to DoubleZero on their regulatory success also came from the founder of Solana, Anatoly Yakovenko.

Eleanor Terrett, a former Fox Business journalist, remarked that «in a broader context, this is the first no-action letter received from the SEC that offers some regulatory clarity regarding certain token distribution models.»

Commissioner Hester Peirce separately explained that the economic essence of DePIN projects fundamentally differs from capital-raising operations under the regulator’s jurisdiction.

She characterized the tokens from this sector as functional incentives for encouraging network participants, rather than ownership stakes or promises of profit from others’ efforts. According to the official, this regulatory stance will allow providers to «invest time in building infrastructure rather than parsing through the nuances of securities laws.»

«Congress established the SEC to oversee securities markets, not to regulate all economic activity,» Peirce emphasized.

The commissioner also warned that blockchain technologies will not realize their potential if regulators attempt to fit all activities into existing financial frameworks.

It is worth recalling that in July, the White House presented recommendations for regulating cryptocurrencies. Subsequently, the SEC launched the Project Crypto initiative, which analysts at Bernstein described as «revolutionary.»

In August, SEC Chairman Paul Atkins announced the beginning of the development of clear rules for the cryptocurrency industry. He later commented on the status of digital assets, noting that only a few tokens qualify as securities.