- The SEC has dropped its investigation into Immutable with no charges.
- Immutable supports clear regulations to foster blockchain innovation.
The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into the Australian crypto-gaming firm Immutable. The company announced on March 26 that the regulator will not take any enforcement action against Immutable, the IMX Ecosystem Foundation, or its CEO James Ferguson.
Immutable first revealed in October that it had received a Wells notice from the SEC. This notice signaled that the agency was considering possible charges over alleged securities law violations related to the IMX token. However, with the case now closed, Immutable claims this decision validates its commitment to legal and regulatory compliance.
The SEC’s decision aligns with its recent pattern of dropping cases against several crypto entities. Since January, the regulator has ended investigations into firms like Kraken, Coinbase, Gemini, MetaMask, OpenSea, Robinhood, and UniSwap.
This shift follows the departure of former Chair Gary Gensler and a change in leadership under the Trump administration. The SEC has also formed a new crypto task force led by Republican Commissioner Hester Peirce to clarify securities laws for digital assets.
Immutable Advances Web3 Gaming
Immutable welcomed the ruling as a positive step for the Web3 gaming sector. The company emphasized that it remained focused on development despite the regulatory uncertainty. Over the past year, Immutable has signed a record number of games, launched Immutable Play, and onboarded over a million new users to its Passport system. Following the announcement, IMX, Immutable’s native token, surged 6% in the past 24 hours. The SEC declined to comment on the case.
Immutable also supported the U.S. government’s efforts to establish clear regulations for digital assets. The company stated that constructive regulation offers certainty for builders and fosters blockchain innovation. With the SEC dropping its case, Immutable considers the matter resolved. The firm continues to focus on advancing Web3 gaming and digital ownership.
Highlighted Crypto News Today
BEAM Struggles to Hold Ground Amid Market Uncertainty
