The US Securities and Stock Exchange Committee is looking to drop an unregistered lawsuit against Dragonchain at Blockchain in the latest retreat from the agency.
In a joint condition submitted to Dragonchain on April 24 at the Seattle Federal Court, the Supreme Education Council said it “believes that the rejection of this case is appropriate,” noting the agency’s work. The encryption workplace In help “develop the organizational framework for encryption assets.”
“The committee and the defendants stipulate that this litigation refuses with bias […] Without costs or fees for either party.
the SEC SUED Dragonchain, Inc.; Her supporter, Dragonchain Foundation; Dragon Company; And the founder of Dragonchain, Joseph Rotes, in August 2024, claiming that they raised $ 16.5 million through an encryption code that was unregistered securities.
According to SEC, Dragonchain (DRGN) collected $ 14 million in the pre -August 2017 period and a preliminary currency (ICOThat lasted in October and November of that year. At that time, she said that the company needed to register because the symbols were investment contracts according to which stock laws.
The Securities and Stock Exchange said that its value of $ 2.5 million was sold between 2019 and 2022, which it claimed was used to cover work expenses and develop the company’s technology.
The lawsuit remained in October after Dragonchain made a settlement offer to the Supreme Education Council extended In January after the agency said the case should remain suspended by US President Donald Trump Equipment executive Earlier that month, he called for the country’s “leadership of digital assets”.
Meanwhile, the DRGN code jumped by 95 % during the past day to more than 8.5 cents on the SEC planned separation news, but it still decreased about 98.5 % of its peak of $ 5.46 in January 2018, According to To Coingecko.
Again retracted the encryption under Trump
It is the latest coding case that SEC abandoned under Trump’s management.
The Securities and Stock Exchange Authority operated an encryption work squad in January, a day after Trump was re -introduced to the White House, to lead the organizer’s participation with the encryption industry.
Related to: The SEC Business Squad met companies that support Trump to discuss the organization of encryption
Agency note He appears On March 24th, the Labor Business Squad met with a discussion of how SEC dealt with dealing with Crypto.
SEC also rejected some of the most prominent lawsuits against encryption companies, including their actions against Coinbase, Ripple and Kraken.
Investigations were also dropped in other encryption companies, including Opensea, Crypto.com and IMMUTABLE, with no other procedure.
magazine: SEC’s U-Orn on Crypto Main Questions Waves without answering
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