Big news for Helium and the DePIN ecosystem.
The SEC has officially dropped its securities case against Nova Labs, the team behind The People’s Network — and the decision is permanent.

In a blog post on April 11, Helium called it a “major win” for its token economy, especially for HNT, IOT, and MOBILE. The case has been dismissed with prejudice, meaning it’s dead for good — and can’t be reopened.

Why It Matters: Token Incentives ≠ Securities

Nova Labs says this ruling shows that selling hardware and issuing tokens to incentivize participation doesn’t automatically make those tokens securities under U.S. law. That’s huge for projects building in the DePIN (Decentralized Physical Infrastructure) space.

They also gave a nod to the new SEC leadership under the Trump administration, calling the change a positive signal for crypto innovation.

But Not a Total Free Pass…

While the securities case is gone, Nova Labs did agree to a $200,000 civil penalty to resolve separate fraud allegations related to their 2021–22 fundraising round. At the time, the company was valued at $1 billion.

The issue? Allegedly overstating big-name partnerships with brands like Nestlé, Lime, and Salesforce. Still, no admission of guilt — just a clean settlement.

New SEC Chair = New Crypto Era?

This news drops just a day after Paul Atkins was confirmed as the new SEC Chair. Known for being pro-Web3, Atkins is already making waves: the SEC has also dropped lawsuits against Coinbase, Kraken, and Consensys.

So yeah — feels like a turning point. Especially for DePIN projects and token-based ecosystems.

TL;DR: Helium’s legal battle is over. Tokens are not automatically securities. DePIN just got a green light.