full image - Repost: SEC Drops Lawsuit Against Helium, Clears Token as Non-Security (from Reddit.com, SEC Drops Lawsuit Against Helium, Clears Token as Non-Security)
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In a major win for the crypto industry, the U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Nova Labs, the developer behind the Helium Network, for alleged securities violations related to its token launch.Filed in January 2025, the lawsuit accused Helium of issuing unregistered securities through the distribution of its native HNT, IOT, and MOBILE tokens. The dismissal with prejudice, announced by Helium on April 10, means the SEC cannot pursue the same charges again.“We can now definitively say that all compatible Helium Hotspots and the distribution of tokens through the Helium Network are not securities,” the company stated.This legal reversal was one of the final actions taken under former SEC Chair Gary Gensler, who stepped down after President Trump took office. The case was formally dropped the same day Paul Atkins, a crypto-friendly Trump appointee, assumed the SEC Chair position.The decision is widely seen as part of a broader policy pivot under the new administration, which has already led to dropped charges against major crypto firms like Coinbase, Kraken, Ripple, and Uniswap.With roughly 375,000 active hotspots and a renewed green light from regulators, Helium looks poised to expand its decentralized wireless network amid a friendlier U.S. regulatory climate.
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