The US Securities and Exchange Commission (SEC) has dropped its investigation into the web3 gaming platform that will not change and will not file implementation charges, according to a Tuesday announcement from the company.
Incorporative, an Australian company, revealed that it received a notice of Wells-essentially an official head-up from the SEC who intends to file an action that implemented against the recipient-in November. At this time, the firm thought that the SEC investigation was tied to its list and private sales of the native IMX token back in 2021.
“We are glad that the SEC has finished its questioning,” Robbie Ferguson, co-founder and president of Immableble, said in a statement. “It marks a significant milestone for crypto
industry and play as we move forward to a future clarity in regulation. “
Ferguson added that the firm was “delighted” in developing the clarity of regulation derived from the US government, and said that “with a clear framework of regulation, we plan to speed up our ambitions to bring digital ownership to 3.1 billion players in the world.”
The SEC refused to comment, telling CoinDesk that the agency was “not commenting on the existence or not in a possible investigation.”
SEC’s decision to end its investigation into the irreversible is the latest in a string of closed probes and Falling the trial As the agency continues its entire-scale contraction from the so-called “regulation by implementing” approach to the crypto industry. Under the leadership of acting chair Mark Uyeda, the SEC signed a total overhaul in the crypto regulation strategy, setting a crypto task force led by Crypto-friendly Hester Peirce and begins a series of circular discussions with industry players.
In the lower than-three-month span since US president Donald Trump has accepted the office-a change of sea regulation for the crypto industry-the SEC investigation into the Crypto Exchange Gemini, RobinTay’s trading platform, unpaid token (NFT) market Openea, NFT Company yuga labs, implemented charges to be filed. The agency’s trial against crypto companies including Kraken, Coinbase, Consensys, Ripple Andcumberland DRW also fell. More trial, including SEC cases against Tron and Binance, is paused.
However, not everyone who received a notice of Wells was in the SEC’s hook. Crypto Issuer Unicoin received a notice in Wells last year informing the firm that the SEC planned to bring charges to express violations related to fraud, fraudulent skills and the offer and sale of unregistered security.
A UNICOIN spokesperson told CoinDesk that the firm was “remaining in the final stages of the SEC review process.”
“So far, we have not received any new updates or formal comments from the SEC about our registration,” the spokesman added. “We are fully focused on compliance and transparency, and we continue to work towards securing the necessary approval for our planned offerings.”
Crypto.com also received a notice in the well from the SEC last year, after which accused the agency And then-chair Gensler, accusing the regulator of “unlawfully expanding its constituents.” The suit eventually fell. Crypto.com did not comment on the public on the SEC investigation status, and did not respond to CoinDesk’s request for comment.
