{"id":126938,"date":"2025-04-10T22:22:26","date_gmt":"2025-04-10T22:22:26","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126938"},"modified":"2025-04-10T22:22:26","modified_gmt":"2025-04-10T22:22:26","slug":"sec-drops-suit-against-helium-for-alleged-securities-violations","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126938","title":{"rendered":"SEC drops suit against Helium for alleged securities violations"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe US Securities and Exchange Commission (SEC) has dismissed a lawsuit against Nova Labs, developer of decentralized wireless network Helium, for allegedly issuing unregistered securities, Helium stated in an April 10 blog post.\u00a0<br \/>\nFiled in January 2025, the lawsuit was among the SEC\u2019s final enforcement actions against a cryptocurrency developer under former Chair Gary Gensler, who stepped down from his post on Jan. 20 after US President Donald Trump took office.\u00a0<br \/>\nThe dismissal with prejudice means the blockchain developer cannot be charged with similar violations again for issuing in 2019 its native token Helium (HNT), the company said.\u00a0<br \/>\n\u201c[W]e can now definitively say that all compatible Helium Hotspots and the distribution of HNT, IOT, and MOBILE tokens through the Helium Network are not securities,\u201d Helium said.\u00a0<br \/>\n\u201c[T]he outcome establishes that selling hardware and distributing tokens for network growth does not automatically make them securities in the eyes of the SEC [and] that the SEC cannot bring these charges against Helium again,\u201d it added.<br \/>\nSource: HeliumThe SEC\u2019s Helium reversal came the same day Trump-nominee Paul Atkins formally replaced Gensler as SEC Chair after a lengthy confirmation process in the Senate.\u00a0<br \/>\nHelium is a blockchain network designed to let \u201canyone build and own massive wireless networks,\u201d according to its website. The protocol reports having roughly 375,000 active hotspots.\u00a0<br \/>\nAccording to CoinGecko, HNT has a market capitalization of approximately $480 million as of April 10 \u2014 down from highs of more than $5 billion in November 2021.\u00a0<br \/>\nHNT\u2019s price since 2019. Source: CoinGeckoRelated:\u00a0SEC will drop its appeal against Ripple, CEO Garlinghouse says<br \/>\nChanging policy stance<br \/>\nUnder Gensler, the SEC brought upward of 100 charges against Web3 developers for various alleged securities violations.\u00a0<br \/>\nSince Trump took office, the SEC has sharply reversed course, dropping numerous charges against crypto firms, including Coinbase, Kraken, Ripple and Uniswap.\u00a0<br \/>\nTrump has positioned himself as a pro-crypto President, promising to make America the \u201cworld\u2019s crypto capital,\u201d appointing industry-friendly leaders to key regulatory posts, and ordering the federal government to create a national Bitcoin (BTC) reserve.<br \/>\nFor some crypto executives, Trump&#8217;s policies \u2014 such as announcing sweeping tariffs on US imports in April \u2014 threaten to stymie crypto\u2019s progress.<br \/>\nMagazine:\u00a03 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame<a href=\"https:\/\/cointelegraph.com\/news\/sec-dismisses-helium-lawsuit?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe US Securities and Exchange Commission (SEC) has dismissed a lawsuit against Nova Labs, developer of decentralized wireless network Helium, for allegedly issuing unregistered securities, Helium stated in&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126938"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126938"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126938\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126938"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}