The U.S. Securities and Exchange Commission (SEC) has officially concluded its investigation into Immutable, known for its Ethereum layer-2 solution, ImmutableX, without taking any action.
Conclusion of SEC Investigation
According to the platform, the SEC concluded its investigation into Immutable, taking no action, effectively closing the chapter that started with a Wells Notice received in late 2024 regarding the company's 2021 token sales.
Immutable's Reaction and Case Details
Immutable was critical of the SEC’s approach, which began with the Wells Notice delivered almost without discussion. Co-founder and President Robbie Ferguson emphasized the importance of this decision for the crypto and gaming industries. The investigation focused on the launch and private sales of the IMX token in 2021.
Future for Immutable and Web3 Gaming
Immutable believes the end of the investigation opens the door for game developers planning to move into Web3. The company expects clearer rules to reduce the barrier for transition into the new sector.
The conclusion of the SEC investigation is a significant step towards regulatory clarity for the crypto and gaming industries. It may also act as a catalyst for the growth of the in-game item tokenization market.
