According to the latest information, Immutable X (IMX) declared the Web3 games winner after the SEC concluded its investigation.
Immutable has announced that the U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into the company and related parties. The SEC found no wrongdoing and will not be taking any further action, effectively ending the Wells notice issued last year.
The decision marks a significant moment for Immutable and the broader Web3 gaming industry, as it clears up regulatory uncertainty that has loomed over the sector. Immutable has previously disputed the SEC’s investigation, arguing that the agency was taking a “regulation by enforcement” approach that unfairly targeted blockchain companies. The company joins other industry leaders such as Coinbase, Consensys, Ripple, OpenSea and Crypto.com that have faced SEC scrutiny in recent months.
When the Wells notice was first published, Immutable believed the allegations were related to the listing and private sale of its IMX token in 2021. However, with the SEC now dropping its investigation, the company is looking to a future for Web3 gaming without regulatory restrictions.
*This is not investment advice.
