SEC issues no-action letter to Fuse Energy regarding ENERGY tokens

On November 24th, Fuse Energy posted on the X platform that the Securities Exchange Commission (SEC) issued a No-Action Letter to Fuse Energy for the Energy Dollar (ENERGY) token. ENERGY is a native utility token for The Energy Network built on the Solana blockchain. The project white paper was released today with full details. "Based on the facts presented, the SEC will not recommend enforcement action to the SEC if Fuse issues and sells tokens in the manner and under the circumstances described in your counsel's opinion without registering them under Section 5 of the Securities Act and without registering them as equity securities pursuant to Section 12 (g) of the Exchange Act," the SEC said in a related announcement. "This position is based on representations made to the department in your counsel's opinion. Any different facts or circumstances could have led the department to a different conclusion. In addition, this response only expresses the department's position on enforcement actions and does not make any legal conclusions on the matters described."