SEC Ends Investigation into Immutable, No Enforcement Charges Filed
The U.S. Securities and Exchange Commission (SEC) has ceased its investigation into Immutable, a Web3 gaming platform, and will not file enforcement charges. Key points include:
- Immutable received a Wells notice in November 2022, indicating potential enforcement action related to its IMX token sales in 2021.
- Co-founder Robbie Ferguson expressed satisfaction with the SEC's decision, viewing it as a milestone for regulatory clarity in the crypto and gaming sectors.
- The SEC's closure of this investigation aligns with recent trends under Acting Chair Mark Uyeda, moving away from aggressive regulatory approaches initiated by former Chair Gary Gensler.
- Other investigations involving companies like Gemini, Robinhood, OpenSea, Yuga Labs, and Kraken have also been dropped without enforcement actions.
- Meanwhile, Unicoin remains under review after receiving a Wells notice, with no updates from the SEC on their registration process.
- Crypto.com, which previously received a Wells notice, had sued the SEC but later dropped the suit; they have not commented on their investigation status.