The U.S. Securities and Exchange Commission (SEC) has issued a significant No-Action Letter to Fuse, confirming that it will not recommend enforcement action against the project's ENERGY token. The letter clarifies that, under the specific proposed issuance structure, the ENERGY token is not considered a security. This regulatory clarity is pivotal for the project, ensuring that the token can operate within the defined framework without falling under strict securities regulations. This development is widely viewed as a potential precedent for regulatory compliance within the broader DePIN (Decentralized Physical Infrastructure Networks) sector. By establishing that tokens with specific utility and structural characteristics may bypass securities classification, the SEC's decision offers a potential roadmap for other decentralized infrastructure projects seeking to navigate the complex U.S. regulatory landscape. [Update 1] Additional reporting confirms the SEC's stance, reiterating that the ruling applies specifically to the ENERGY token's issuance structure and highlighting its importance as a compliance benchmark for future DePIN initiatives.