SEC Grants No-Action Relief to DoubleZero, Signaling Potential Shift for DePIN Tokens

The U.S. Securities and Exchange Commission took a notable step toward regulatory clarity for decentralized physical infrastructure networks (DePIN) by issuing a no-action letter to DoubleZero. The September 29 decision indicates the SEC won't pursue enforcement against the company's token program—a first for the DePIN sector.

DePIN projects leverage cryptocurrency tokens to crowdsource real-world infrastructure resources like data storage or wireless connectivity, creating decentralized alternatives to corporate providers. The SEC's press release emphasized its commitment to engaging with innovators while maintaining regulatory oversight: "Our job is to engage with innovators in good faith... [and] apply our statutory mandate thoughtfully."

Notably, the agency clarified that DePIN projects operate through decentralized coordination rather than traditional corporate structures—a distinction that may influence future crypto regulatory approaches. This development suggests growing institutional recognition of tokenized infrastructure models.