Immutable, the blockchain protocol designed for the next-generation of Web3 games said it has received a Wells Notice from the US Securities and Exchange Commission (SEC). The startup unveiled this in a recent update, a proof of the regulation by enforcement tactics of the markets regulator.
Immutable Next on US SEC List
After a year-long crackdown moves in the digital currency ecosystem, one might think the US SEC will slow down ahead of the elections. However, Immutable revealed in its announcement that the regulator now alleges it might have violated Federal Securities laws over its native token IMX.
They expressed frustration with the Wells Notice, and noted that it is ready to fight for its rights if required. The firm further claimed that it has been having conversations and interviews with the Commission. Most often, these meetings are geared towards helping the SEC understanding Immutable’s situation. In its blog post, the blockchain protocol noted that it was pre-informed of
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