After the US Securities and Exchange Commission (SEC) dismissed the lawsuit against the Protocol, the Solana (SOL) -based distributed wireless network encryption project is increasing rapidly.
In the new thread of social media platform X, the development team of HNT (Helium) argued that regulators withdrew their lawsuit against the encryption platform and violated the securities law.
According to the press release, helium developer Nova Labs agreed to pay SEC $ 200,000 to solve the accusation without recognizing cheating.
The news of dismissal was at $ 2.62 on April 10 to $ 3.03 in one day, causing HNT rally. Since then, it has been trading at $ 2.96, up 9.9% over the last 24 hours.
The SEC, which originally filed a lawsuit in January, accused the Nova lab distributed unregistered securities.
“The SEC has agreed to dismiss the claims that are not registered as a prejudice. The distribution of HNT, mobile and IoT through helium hotspot and helium networks is not securities. Also, the SEC cannot bring this fee for helium.”
In a recent blog post, Helium’s dismissal is a “groundbreaking result” of the digital asset industry and depth (distributed physical infrastructure) technology and talks about the actual infrastructure.
“The landmark results are a pivotal turning point of the helium community and the entire encryption industry, which eliminates the legal uncertainty of the DEPIN project to build a real infrastructure using encryption incentives.
As SEC’s claim for unregistered securities is dismissed, the result is that selling hardware and distributing tokens for network growth will not automatically make securities in SEC’s eyes. ”
This shows another lawsuit filed by SEC for Crypto Giants this year after President Donald Trump took office. Other disbanded examples include encryption exchange, Kraken and coinbase, retail trading giant Robin, and the UNBUNBIAL TOKEN (NFT) market OpenSea and Crypto wallet developer Metamask.
Follow us in X, Facebook and Telegram
Don’t miss the beat -Subscribe to the email notifications directly delivered to the received letter box.
Check the price measures
Sur surfing the HODL mix every day
& nbsp
Exemptions: The opinions expressed in Daily HODL are not investment advice. Investors must do live action before making high -risk investments in bitcoin, cryptocurrency or digital assets. Transfer and transactions are at their danger, and the loss that can occur is your responsibility. Daily HODL is not recommended to purchase or sell cryptocurrency or digital assets, and Daily HODL is not an investment advisor. Daily HODL participates in affiliate marketing.
Created image: Midjourney