The US Securities and Exchange Commission (SEC) has dismissed a lawsuit against Nova Labs, the developer of the decentralized wireless network Helium, related to allegations of issuing unregistered securities. The lawsuit, filed in January 2025, was one of the final enforcement actions taken by the SEC under former Chair Gary Gensler, who left his position in January. The dismissal with prejudice prevents Helium from facing similar charges in the future regarding its 2019 token launch. This decision coincided with the confirmation of Paul Atkins, a nominee from President Trump, as SEC Chair. Helium allows users to build and own large wireless networks and boasts around 375,000 active hotspots. Notably, Helium's native token, HNT, has seen a significant market capitalization drop from over $5 billion in 2021 to approximately $480 million. Following Trump's presidency, the SEC has shifted its stance, reducing enforcement actions against crypto firms, contrasting with Gensler's era which saw over 100 charges against different Web3 developers for securities violations.

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