SEC clears ENERGY token as consumer use, not investment
The SEC has approved the use of ENERGY, a token issued by the London-based startup Fuse Crypto Limited, without requiring registration in the United States. The regulator separated the token from securities and acknowledged that its value is determined by consumer use rather than investment potential.
Fuse Crypto Limited, an energy-technology company implementing distributed-energy programs in the U.S. and Europe, received key regulatory support on Monday after the U.S. Securities and Exchange Commission (SEC) stated it would not pursue enforcement actions regarding the company’s planned reward tokens.
Although the SEC emphasized that its position depends on Fuse’s compliance with the facts and conditions described in its filing—and maintaining the token’s structure—Decrypt reports that the decision is one of the clearest examples of the regulator distinguishing a digital loyalty token from an investment product.
“This landmark moment is the result of months of productive engagement with the SEC, and Fuse is proud to contribute to greater regulatory clarity for cryptocurrency in the United States,” the company said in a statement on its X page.
A cryptocurrency discount for energy efficiency
Fuse aims to reshape how energy is produced, distributed, and consumed, offering Solana-based ENERGY tokens as incentives to consumers who install solar panels and other off-grid power systems and join the company’s DePIN Play distributed-energy network.
The London-based firm says the token’s design limits speculation, noting that its redemption value is capped by the company’s profit margin and tied to the average market price at the time consumers use the token.
The company also emphasized that the token functions as a discount for participating in an energy-efficiency program rather than as an investment tied to its business performance.
As we wrote, SEC approves generic listing standards for spot commodity and crypto ETPs
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