The Securities and Exchange Commission (SEC) is unchanging in its investigation into the Web3 gaming platform and will not file an enforcement fee, according to a announcement Tuesday.
Australian company Immutable has revealed that it received a notification for Wells in November. At the time, the company speculated that the SEC survey was related to a list of native IMX tokens and private sales in 2021.
“We are pleased to see that the SEC has completed its investigation,” Robbie Ferguson, co-founder and president of Immutable, said in a statement. “This is an important milestone for cryptography.
Industry and games as we move towards the future with clarity of regulations. ”
Ferguson added that the company is “excited” by the clarity of developing regulations from the US government, and that “in a clear regulatory framework, it plans to accelerate its ambition to bring digital ownership to the 3.1 billion gamers around the world.”
The SEC declined to comment and told Coindesk that the agency “has not commented on the existence or existence of a possible investigation.”
The SEC’s decision to close the investigation into Immutable is the latest in a series of closed probes, as the lawsuit continues its full-scale retreat from former chairman Gary Gensler’s so-called “regulated by enforcement” approach. Under the guidance of deputy Mark Weda, the SEC signaled a complete overhaul of its crypto-regulation strategy and led by crypto-friendly commissioner Hester Peirce to establish a crypto-task force that launched a series of roundtable discussions with industry players.
It will drive change in the crypto industry’s regulated ocean over three months into office – Crypto Exchange Gemini, trading platform Robinhood, NFT) market Opensea, NFT Company Labs, and now it’s not possible. Institutional lawsuits against crypto companies such as Kraken, Coinbase, Consensys, Ripple and Comburland DRW have also been removed. Many more cases have been suspended, including the SEC lawsuit against Tron and Binance.
However, not everyone who has been notified of Wells is off the hook yet. Crypto Issuer Unicoin received a Wells notification last year informing the company that the SEC had planned a claim claiming fraud, deceptive practices, and violations related to the offer of unregistered securities and sales.
A spokesman for Unicoin told Coindesk that the company will “remain the final stages of the SEC review process.”
“At this time, we have not received any new updates or formal feedback from the SEC regarding registrations,” the spokesman added. “We are fully committed to compliance and transparency and continue to work to ensure the necessary approvals for planned delivery.”
crypto.com received a Wells notification from the SEC last year, and later sued the agency and then-chairman Gensler, accusing the regulator of “illegally expanding jurisdiction.” The suit was dropped later. Crypto.com did not publicly comment on the status of the SEC investigation and did not respond to Coindesk’s request for comment.
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