The SEC has given its second “no-action letter” to a DePIN crypto project, providing regulatory cover to its native token FUSE. The letter was issued to Solana DePIN project Fuse, which rewards network maintainers with FUSE tokens not sold to the public. Fuse requested confirmation from the SEC before continuing token offerings.

This latest SEC no-action letter follows one issued to Double Zero, showing a more crypto-friendly approach under new leadership. DoubleZero co-founder praised the SEC’s professionalism and receptiveness during the process. The agency has been under new leadership since April, with a more balanced stance towards crypto, led by Hester Peirce.

SEC’s no-action letters provide regulatory clarity and assurance for crypto projects issuing tokens. Legal experts like Rebecca Rettig emphasize the importance of these letters in avoiding immediate enforcement for securities law violations. The pass given to Fuse was expected, according to crypto lawyers, due to the nature of the token.

Some crypto founders applaud the SEC’s shifting approach under new leadership, contrasting with past hostility felt under former Chair Gary Gensler. The agency’s recent engagement with Fuse and other projects indicates a significant change in its enforcement strategy. The SEC also issued a no-action letter for crypto-custodians, providing clear guidelines for industry operations.

Read more at Cointelegraph: Solana DePIN Project Fuse Secures No-Action Letter From SEC