The US Securities and Exchange Commission issued a no-action letter allowing DoubleZero to launch its 2Z token. Michael Seaman, chief counsel of the SEC Division of Corporation Finance, confirmed the agency will not pursue enforcement action. The letter clarified that the 2Z token does not qualify as a class of equity securities under US law. DoubleZero’s protocol enables blockchain networks to access underutilized private fiber links managed by participants. Network contributors receive 2Z tokens for their involvement, rewarding work rather than investment.