SEC Issues No-Action Letter for Energy Dollar Token

According to ChainCatcher, Fuse Energy announced on the X platform that the U.S. Securities and Exchange Commission (SEC) has issued a No-Action Letter regarding the Energy Dollar (ENERGY) token. ENERGY is the native utility token of The Energy Network, which is built on the Solana blockchain. The project's white paper, containing full details, was released today. In its announcement, the SEC stated, "Based on the facts presented, if Fuse issues and sells the token in the manner and circumstances described in your legal counsel's opinion, without registering under Section 5 of the Securities Act and without registering the token as an equity security under Section 12(g) of the Exchange Act, this division will not recommend enforcement action to the SEC. This position is based on the representations made in your legal counsel's opinion to this division. Any different facts or circumstances might lead this division to a different conclusion. Furthermore, this response only reflects the division's position on enforcement action and does not express any legal conclusions on the matters described."