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| Helium |
Helium’s Legal Win Marks Major Shift for DePIN and Crypto Regulation
The U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Helium (HNT), causing a nearly 10% surge in the token's price.
On April 12, Helium’s development team announced via X (formerly Twitter) that the SEC dismissed its lawsuit over unregistered securities. Originally filed in January, the lawsuit accused Nova Labs—the Solana-based decentralized wireless project's development firm—of violating federal securities laws.
To close the case, Nova Labs agreed to pay a $200,000 settlement without admitting legal fault. As part of the agreement, the SEC acknowledged that HNT, MOBILE, IOT tokens, and Helium hotspot rewards are not securities.
Importantly, the case was dismissed "with prejudice," meaning the SEC cannot refile the same charges. This legal outcome sets a precedent for the broader DePIN (Decentralized Physical Infrastructure Network) industry.
Helium stated in its blog that this decision represents a critical turning point for the tokenization of real-world infrastructure. The ruling clarifies that selling hardware and distributing tokens does not automatically classify a project as a securities offering.
Following the news, the HNT token jumped from $2.62 to $3.03, before stabilizing near $2.96—up 9.9% within 24 hours.
This dismissal aligns with a broader trend under President Donald Trump’s administration, where the SEC has been pulling back several lawsuits against crypto companies. Other recently withdrawn cases involved Kraken, Coinbase, Robinhood, OpenSea, and MetaMask.
SEC’s Shift in Approach May Signal New Era for Crypto
The Helium case may influence future regulatory treatment of blockchain projects involving physical infrastructure. As regulatory clarity increases, market participants could see greater flexibility in deploying DePIN technologies and tokenized networks.
This legal resolution not only relieves pressure on Nova Labs but also sends a signal across the crypto sector: not all utility tokens are securities, and the tides of regulation may be changing.