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The SEC of the United States withdraws the lawsuit against Helium developer Nova Labs.
On April 11, the developers of the Helium Network, Nova Labs, stated that the U.S. Securities and Exchange Commission (SEC) has withdrawn its charges against the company for selling unregistered securities. Helium stated in a blog post on Thursday that this means selling “hardware and distributing tokens to promote network growth” does not automatically make them securities. The SEC sued Nova Labs in January of this year, and days later, former chairman Gary Gensler (Gary Gensler) resigned on January 20. The lawsuit involves three tokens related to Helium—the Helium network token (HNT), the Helium mobile token (MOBILE), and the Helium internet of things network token (IoT)—the SEC claims these tokens are all unregistered securities.