SEC’s Back-to-Back No-Action Letters Signal Thaw in Regulatory Stance
In a move fueling optimism across the crypto industry, the SEC has granted a second no-action letter in recent months, this time to Solana-based DePIN project Fuse.
The rare relief provides regulatory protection for Fuse’s FUSE token, which is designed solely as a reward for network participants and not for speculation.
The decision, following a similar letter to Double Zero in August, is being interpreted as a significant shift in the SEC’s posture under Chair Paul Atkins.
DoubleZero’s co-founder described the SEC’s process as “professional, diligent, and without crypto animosity,” a stark contrast to the “regulation by enforcement” approach of the past. This back-to-back approval suggests a nascent, more predictable pathway for projects that can demonstrate clear utility over investment speculation.
