Helium (HNT) Rallies as SEC Drops Unregistered Securities Claims

This agreement by Helium developer Nova Labs with the SEC. This deal resulted in the dropping of a lawsuit that had been lurking like a dark cloud over the decentralized wireless network and the broader DePIN industry. This was a huge win for Helium, as the SEC agreed to dismiss its unregistered securities claims with prejudice.

The lawsuit – filed back in January – alleged that Nova Labs violated the law by selling unregistered securities. As for the settlement, Nova Labs will pay the SEC $200,000.

The development team behind Helium celebrating the dismissal of the lawsuit on X. They announced that Helium Hotspots and the mining of HNT, MOBILE, and IOT via the Helium Network are not securities. In selling of hardware, simply providing hardware or a means of obtaining software for the purpose of network growth doesn’t mean they are securities.

The SEC has agreed to dismiss its unregistered securities claims with prejudice. Helium Hotspots and the distribution of HNT, MOBILE, and IOT through the Helium Network are not securities. It also means that the SEC cannot bring these charges against Helium again. - Helium

Now, with the SEC’s claims having been roundly dismissed, legal uncertainty has been removed for DePIN projects. These projects depend on tokenization to incentivize the deployment and maintenance of real-world infrastructure. Helium hailed the move as a historic win for not just the digital assets industry, but DePIN technology as a whole.

That announcement sparked an over 35% rally in Helium’s native token, HNT, which now exists on the Solana (SOL) blockchain. As the news spread, HNT rocketed from a low of $2.62 on April 10th to a high of $3.03 the next day. At the time of writing, HNT is changing hands for $2.96, up 9.9% in the last 24 hours.

The Helium community and the broader crypto industry have closely followed the lawsuit, recognizing its potential implications for the regulatory landscape surrounding digital assets. Earlier this year, the SEC prematurely announced the dropping of its lawsuit against a number of crypto behemoths. This decision followed President Donald Trump’s inauguration.