DoubleZero's SEC No-Action Letter: A Milestone for DePin Projects
Wednesday, October 1, 2025 12:00 AM
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In the evolving landscape of cryptocurrency, regulatory frameworks play a pivotal role in determining the success of various projects. As the U.S. moves towards clearer regulations under the leadership of Donald Trump in 2025, decentralized finance (DeFi) and tokenization initiatives are gaining traction, particularly through the GENIUS Act. A notable development in this space is the rise of decentralized physical infrastructure networks (DePin), which have amassed over $16.9 billion in assets, with projects like Bittensor, Render, and Filecoin emerging as frontrunners. Solana, in particular, is becoming a hub for many DePin projects, which could significantly shape the future of the sector due to recent regulatory advancements.
At the forefront of these developments is DoubleZero, a DePin platform focused on enhancing Solana’s scalability by optimizing data transfer between validators. The platform aims to achieve an impressive throughput of 1 million transactions per second (TPS) by leveraging underutilized private fiber-optic links. DoubleZero’s commitment to regulatory compliance was underscored when the SEC issued a no-action letter on September 29, 2025, effectively approving the programmatic distribution of its 2Z tokens. This letter indicates that the SEC will not pursue enforcement actions against DoubleZero, provided the token functions solely as a utility and does not qualify as a security under the Howey Test.
The SEC’s no-action letter has been met with enthusiasm within the crypto community, as it sets a precedent for future projects seeking regulatory clarity. Legal experts view this as a significant milestone that could facilitate compliant token distributions in the U.S. Crypto-friendly SEC Commissioner Hester Peirce has expressed optimism about this guidance, suggesting it allows for further innovation in the sector. The positive reception of this ruling is echoed by Helium, a decentralized wireless network, which sees it as a victory for DePin initiatives. As the regulatory landscape continues to evolve, the implications of these developments for platforms like DoubleZero and Helium could foster a new wave of innovation in the crypto space.
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