According to the source, the U.S. SEC staff issued a no-action letter to DoubleZero indicating the 2Z token does not resemble a security ahead of its launch (source: user-provided source; official confirmation should appear on the SEC no-action letters index at sec.gov). A no-action letter reflects SEC staff will not recommend enforcement to the Commission based on the specific facts presented and is not a legal determination that the asset is or is not a security (source: U.S. SEC, No-Action Letters overview). If the letter is posted with clear conditions, it could reduce immediate enforcement risk for secondary trading under those conditions, which is a key input for compliance reviews by market participants (source: U.S. SEC, No-Action Letters overview). Traders should monitor for the letter’s publication and any conditions or limitations that could affect U.S. venue access and liquidity for 2Z and Solana DePIN exposure, including SOL beta (source: U.S. SEC, No-Action Letters overview; SEC Digital Asset Framework, 2019).