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American housing construction company Megatel Homes is preparing to launch a crypto rewards platform called MegPrime, after receiving a no-action letter from the U.S. Securities and Exchange Commission (SEC).
🔷 The MegPrime platform allows users to use "MP Token" to pay rent and receive reward tokens for daily spending or exchange them for USD.
🔷 A key feature is that tenants using these tokens can get a 100% refund of their rent for the previous 12 months (up to $25,000) to serve as a down payment when purchasing a home in the future.
🔷 The SEC has agreed to allow the project to proceed without enforcement measures, provided MegPrime strictly adheres to the outlined plan to meet legal regulations.
🔷 Megatel Homes' representative said this is a "financial lifeline" for those struggling with high interest rates and rising home prices in the U.S.
🔷 The project has been quietly working for a long time to complete infrastructure and ensure management requirements before officially launching into the market.