Odaily Planet Daily News Helium Network developer Nova Labs said the U.S. Securities and Exchange Commission (SEC) has dropped charges that the company sold unregistered securities.
Helium said in a blog post on Thursday that this means that selling "hardware and distributing tokens to promote network growth" does not automatically make it a security. The SEC sued Nova Labs in January this year, and a few days later, former chairman Gary Gensler resigned on January 20. The lawsuit involves three Helium-related tokens - Helium Network Token (HNT), Helium Mobile Token (MOBILE) and Helium Internet of Things Network Token (IoT) - the SEC said that these tokens are unregistered securities.