SEC Issues No-Action Letter for FUSE Token on Solana DePIN
The U.S. SEC has issued a no-action letter for the FUSE token, the native token of Fuse, a Solana-based DePIN project. Fuse applied on November 19, arguing the FUSE token serves network utility, rewards operators, is not publicly sold, and only redeemable via third parties. SEC’s Division of Corporation Finance, led by Deputy Chief Counsel Jonathan Ingram, confirmed it will not recommend enforcement if FUSE token distribution follows these conditions. This is the second no-action letter for a DePIN project after Double Zero and reflects a more balanced SEC stance under Chair Paul Atkins and Commissioner Hester Peirce. Legal experts say the letter offers critical regulatory clarity and could accelerate DePIN adoption and boost market confidence.
Bullish
The no-action letter removes a major regulatory overhang for the FUSE token, reducing legal risks and uncertainty. In the short term, traders are likely to buy on the positive news, driving demand. Over the long term, the regulatory clarity and precedent set by this SEC decision can foster wider DePIN adoption, increase network participation, and enhance token utility, all of which support sustained price growth.