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- The SEC has dropped all claims against Nova Labs over unregistered securities linked to Helium’s ecosystem.
- Three Helium-related tokens—HNT, MOBILE, and IoT—are no longer considered unregistered securities by the SEC.
- Regulatory shifts under new SEC Chair Paul Atkins hint at a friendlier approach toward crypto infrastructure projects.
Nova Labs received formal approval from the U.S. Securities and Exchange Commission for dismissing its original claim about unregistered securities. The dismissal stands as an important progression in the ongoing dispute about cryptocurrency project regulations in the United States.
On Thursday Nova Labs announced their announcement through a published blog post. Nova Labs announced that issuing tokens along with hardware distribution through decentralized network development does not automatically qualify project assets as securities.
Three digital assets from the Helium network had received the SEC’s regulatory attention. The Helium system contained three different tokens known as HNT for Helium Network Token and MOBILE as Helium Mobile Token and IoT for Helium IoT Network Token. The SEC filed its first lawsuit against NovA Labs Inc. in January only to face leadership changes as Gary Gensler resigned from his SEC Chair position.
Nova Labs states that their case cannot be refilled because of this development. The legal result provides security to decentralized physical infrastructure networks (DePINs) that leverage token incentives to drive real-world infrastructure projects.
New Leadership Ushers in a Regulatory Shift for Crypto Projects
Since President Donald Trump returned to office in January, several legal cases targeting crypto firms have been dropped. The investigations targeting Coinbase and Kraken in addition to OpenSea and Consensys and Uniswap were dismissed from legal proceedings. This pattern points to a broader change in regulatory posture under the new administration.
The SEC sector now anticipates new direction from Paul Atkins following his appointment as the organization’s new Chair. Following Senate confirmation on Wednesday the Senate approved Paul Atkins for his position where he gained recognition as a crypto-friendly leader. During his leadership he will make establishing transparent cryptocurrency regulation a top administrative priority.
Nova Labs viewed the case dismissal as an essential milestone that benefits the Helium network alongside the growth of decentralized web technologies. The firm anticipates this dismissal will establish a legal benchmark that future crypto infrastructure projects will face under U.S. laws.
The SEC chose not to issue any statement about the dismissed case proceedings. Other cryptocurrency organizations, together with Nova Labs, conduct continuous assessment of developing regulatory frameworks.
Nova Labs stands to receive relief from legal difficulties after the SEC settled its lawsuit against the company. This case indicates possible changes happening in the SEC’s cryptocurrency enforcement policy during the Trump’s Presidency.
Also Read: Ripple’s Legal Victory in Doubt as SEC Signals Case Still Active
