Crypto traders have found relief in the conclusion of the SEC's investigation against Immutable.
Impact of SEC's Decision
The value of IMX Coin rose by 5% following the SEC's announcement of closing the investigation. Immutable disclosed that the SEC officially terminated its inquiry, which is a positive message for the crypto sector.
Boosting Confidence in the Crypto Market
This development is perceived as a significant transformation for the cryptocurrency community. Last year's Wells notice suggested potential legal actions, but this conclusion signals an optimistic turn for many stakeholders.
Immutable's Position in GameFi
Immutable stands at the forefront of the GameFi sector, boasting over 500 games on its platform. Established during the NFT boom in 2018, the initiative quickly garnered a strong user base. Leading global investors, including Temasek, Tencent, Bitkraft, King River Capital, and Galaxy Digital, have collectively invested over $300 million in the project.
The conclusion of the SEC case may strengthen regulation in the crypto sector and boost market participants' confidence.
