SEC Grants Uncommon No-Action Letter for Solana's DePIN Project Token FUSE

SEC's No-Action Letter to Fuse: The SEC issued a no-action letter to the Solana DePIN project Fuse, providing regulatory cover for its native token FUSE, which is designed for network utility rather than speculation.

Shift in SEC's Approach: This letter follows a similar one granted to Double Zero, indicating a more crypto-friendly stance under new SEC leadership, which has been noted for its receptiveness and professionalism.

Importance of Regulatory Clarity: No-action letters are sought after by crypto projects for regulatory clarity, offering assurance against immediate enforcement for potential securities law violations.

Industry Reactions: The recent no-action letters suggest a significant shift in the SEC's approach, moving away from hostility towards a more balanced interaction with the crypto industry, as noted by industry professionals.