Helium Scores Legal Victory as SEC Dismisses Lawsuit
The post Helium Scores Legal Victory as SEC Dismisses Lawsuit appeared on BitcoinEthereumNews.com.
The case was originally filed in January of 2025, and it accused Nova Labs of issuing unregistered securities through its HNT token. Now, its dismissal with prejudice confirms the SEC cannot revisit the charges. Meanwhile, the SEC recently issued new guidance to provide some more clarity on crypto disclosures, but it stopped short of defining what constitutes a security. While the lawsuits against other crypto companies were dropped, Jack Dorsey’s Block Inc. settled with New York regulators for $40 million over Cash App compliance failures. SEC Ends Legal Battle With Helium The US Securities and Exchange Commission (SEC) officially dropped its lawsuit against Nova Labs, the company behind the decentralized wireless network Helium. This is according to a blog post that was published by Helium on April 10. The suit was originally filed in January of 2025, and it alleged that Nova Labs issued unregistered securities when it launched its native token, Helium (HNT), in 2019. However, the SEC’s dismissal of the case “with prejudice” means the agency cannot pursue similar charges against the company again. This was one of the last enforcement actions that was initiated under former SEC Chair Gary Gensler, who resigned after the inauguration of President Donald Trump on Jan. 20. The agency’s decision to drop the case coincided with Paul Atkins, a Trump nominee and known crypto-friendly policymaker, officially taking over as SEC Chair. Helium stated that the outcome of the case confirms the legality of its operations, particularly the distribution of HNT, IOT, and MOBILE tokens, as well as the sale of Helium-compatible Hotspots. The company believes that the SEC’s decision affirms these tokens are not securities and that hardware distribution for network expansion does not automatically fall under securities law. HNT’s market cap since launch (Source: CoinMarkletCap) The Helium network enables people to…
Filed under: News - @ April 11, 2025 5:28 am