Fuse Crypto receives SEC no-action relief letter over its green energy rewards token
The SEC granted Fuse Crypto a no-action letter regarding its FUSE token, which rewards customers for electricity sustainability efforts.Summary
The SEC's Division of Corporation Finance issued a no-action letter to Fuse Crypto Limited concerning its FUSE token, which incentivizes customers for participating in electricity-sustainability programs like installing EV chargers and solar devices. The SEC stated it would not recommend enforcement action if Fuse offers and sells the token, based on the company's representations that the token is not a security because consumers earn it for their own consumption, not based on an expectation of profit from the efforts of Fuse or others. This follows a similar letter issued to DePIN project DoubleZero in September and occurs amid a generally friendlier regulatory approach by the SEC under the current administration, which is working to update digital asset rules.
(Source：The Block)