Nova Labs, the company behind DePIN Helium, recently announced that the SEC has dropped its lawsuit against the firm just months after it was filed. Despite the dismissal, Nova Labs has agreed to pay $200,000 to settle a civil securities fraud charge related to misleading institutional investors about its partnerships. The firm did not admit to or deny wrongdoing as part of the settlement. A significant outcome of this settlement is that the SEC will not classify any of Nova's three tokens — HNT, IOT, and MOBILE — as securities. This establishes that selling hardware and distributing tokens for network growth does not inherently make them securities in the eyes of the SEC, and the agency cannot pursue these charges against Helium again. Overall, the settlement can be viewed as a favorable result for Nova Labs amidst evolving SEC leadership and a shift in regulatory focus within the crypto industry.

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