The U.S. Securities and Exchange Commission (SEC) has issued a No-Action Letter to DoubleZero, confirming that programmatic transfers of its 2Z token will not be treated as securities transactions. The letter , dated September 29, represents the first public acknowledgment by the SEC that a token tied to blockchain-based Decentralized Physical Infrastructure Networks (DePIN) can be distributed without triggering securities registration requirements. Chairman Atkins: PSA, we are not the Securities and Everything Commission. See: https://t.co/qudVLNrPyG — U.S. Securities and Exchange Commission (@SECGov) September 29, 2025 In the response signed by Michael P. Seaman, chief counsel of the Division of Corporation Finance, the SEC stated it will not recommend enforcement action if DoubleZero conducts 2Z transfers under the framework described by the company’s counsel. Notably, the agency also said 2Z does not need to be registered as a class of equity securities under Section 12(g) of the Exchange Act. The SEC chairman also shared his view, noting that the agency is not extending its reach to cover every digital asset but focusing on tokens that clearly fall under securities laws. SEC Clears DoubleZero Token Launch As Peirce Backs DePIN Model The SEC’s no-action letter to DoubleZero marks a pivotal moment for token regulation in the U.S.; however, it is based strictly on the company’s specific disclosures, with the agency warning that different facts could lead to a different outcome. For DoubleZero, the ruling validates its four-month engagement with the regulator and offers a green light for contributors and users to participate in the network without fear of securities violations. Proud to share that the @SECGov has issued @DoubleZero a No-Action Letter for 2Z. The first-of-its-kind No-Action Letter gives us confidence that 2Z does not have to register as a class of “equity securities” and that programmatic flows of 2Z on the DoubleZero network are… pic.twitter.com/gSgiN6tpQj — DoubleZero IBRL/acc (@doublezero) September 29, 2025 The token’s design, used for value transfer, incentives, and network security rather than equity-like ownership, was central to the SEC’s stance. Shortly after the announcement, Commissioner Hester Peirce also released a statement explaining that DoubleZero’s model fits into the category of decentralized physical infrastructure networks, or DePIN. SEC staff issued a DePIN no-action letter today: https://t.co/yilE8Qc474 — Hester Peirce (@HesterPeirce) September 29, 2025 She emphasized that these projects differ from traditional fundraising because tokens are distributed as compensation for providing services such as bandwidth, storage, or energy, not as investments seeking profit from others’ efforts. According to Peirce, the economic reality of DePIN projects does not meet the criteria of the Howey Test, which defines securities under U.S. law. Treating these tokens as securities, she warned, would stifle the growth of networks that rely on distributed providers. Telecom infrastructure is costly and slow to expand. Can DePIN networks offer a better alternative, or are they just another overhyped blockchain idea? This op-ed breaks it down. #DePIN #Web3 https://t.co/scDoXLHDG9 — Cryptonews.com (@cryptonews) February 28, 2025 Peirce added that blockchain technology should not be forced into frameworks designed for financial markets, stressing that markets, not regulators, should determine the success of infrastructure-based projects. She said the DoubleZero letter illustrates how regulators can engage with innovators in good faith while ensuring compliance with statutory mandates. Peirce said the no-action letter “offers an opportunity to reflect on how we, as regulators, can foster innovation without expanding our reach beyond what Congress has mandated.” A Milestone for the Crypto Industry and What Is Next for 2Z? Industry participants view the letter as an important signal for token launches in the United States, where regulatory uncertainty has long slowed development. DoubleZero said the decision opens the way for it to accelerate its goal of building decentralized network infrastructure. Solana also echoed the same sentiment, announcing that DoubleZero is building a dedicated fiber network to scale Solana beyond internet latency limits. BRRR DAO noted that the ruling opens access for crypto firms to traditional finance, including bank loans and institutional funding, echoing XRP’s 2020 legal precedent. Unlike XRP, DoubleZero secured approval before launch, signaling regulators are beginning to separate speculative tokens from those with real utility. Ripple Labs and the SEC have jointly filed a motion to pause their appeals in the long-running legal battle over XRP. #SEC #Ripple https://t.co/QRLcP4Bejn — Cryptonews.com (@cryptonews) April 11, 2025 Meanwhile, 2Z is set to debut on Binance Alpha and Binance Futures on October 2, with trading starting at 12:00 AM UTC and 12:30 AM UTC, respectively. Binance will also hold a limited airdrop for eligible users, while DoubleZero promotes staking as part of its rollout. Together, the regulatory nod and exchange listings mark a turning point for Solana’s ecosystem. The post SEC Greenlights 2Z Token With Rare No-Action Letter — Is DePIN Finally Regulated? appeared first on Cryptonews .
