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. In the response signed by Michael P. Seaman, chief couns ...