Credit: rawpixel.com/Adobe Stock 'Parting Shot': SEC Issues Wells Notice to Immutable Ahead of US Election
"If the manner of providing clarity to the industry is by winning against this attempted regulation by enforcement, then Immutable is happy to do so," Immutable said in the blog post.
November 01, 2024 at 03:23 PM
3 minute read
Cryptocurrency
What You Need to Know
- The Immutable Group says it received a Wells notice from the U.S. Securities and Exchange Commission.
- The Wells notice follows others issued to players in the crypto industry by the SEC within the last few months.
- An independent expert noted the significance of the Wells notice being issued ahead of the U.S. election.
The Immutable Group announced in a blog post on Friday that the U.S. Securities and Exchange Commission issued it a Wells notice over the listing and private sales of IMX tokens, becoming the first known instance of the federal agency issuing a threat against a crypto gaming firm and within days of the U.S. election.
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