As a seasoned observer of the digital currency landscape, I find myself once again witnessing the relentless march of regulatory scrutiny in the United States. The latest target on the SEC’s list is Immutable, a blockchain protocol that has been making waves in the Web3 gaming sector.
The blockchain protocol being developed for future Web3 games labeled as “Immutable” has announced that it has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). This disclosure was made in a recent update, indicating that the SEC is taking regulatory action through enforcement tactics towards the startup.
Immutable Next on US SEC List
Despite a year’s worth of enforcement actions in the digital currency sector, one might assume that the U.S. Securities and Exchange Commission (SEC) would ease up before elections. However, Immutable has disclosed in their announcement that they are now under investigation by the SEC for potentially breaching Federal Securities laws regarding their native token IMX.
They openly showed displeasure about the Wells Notice, and made clear they are prepared to defend their rights should the situation call for it. It’s worth mentioning that OpenSea too was served a Wells Notice by market regulators in August.
This is a breaking news, please check back for updates!!!
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2024-11-01 01:03