SEC Drops Lawsuit Against Helium Developer Nova Labs Over Token Sale

The U.S. Securities and Exchange Commission (SEC) has dropped its lawsuit against Nova Labs, the developer behind the Helium Network. The dismissal, announced on April 10th, comes after an earlier allegation that Nova Labs sold unregistered securities through its 2019 token issuance of Helium (HNT). The SEC’s decision concludes a lengthy legal battle and clarifies that distributing tokens to support decentralized infrastructure is not considered a security, paving the way for other projects in the Decentralized Physical Infrastructure Network (DePIN) space.