U.S. SEC signals softer stance with rare no-action letter to crypto startup
The U.S. Securities and Exchange Commission (SEC) has reportedly approved a major project, DoubleZero, confirming that its digital token, 2Z, will not be classified as a security.
This announcement came after the commission granted the initiative a “No-Action Letter.” This letter marks a historic accomplishment for the project.
In an X post, DoubleZero explained that a No-Action Letter meant that SECGov’s Division of Corporation Finance investigated the functionality of its 2Z token’s programmatic distributions and concluded that it will not recommend any enforcement action to the Commission based on the information provided.
DoubleZero’s approval improves crypto firms’ confidence in their operations
Several crypto…
