The U.S. Securities and Exchange Commission (SEC) has completed its investigation into Australian crypto-gaming firm Immutable. The regulator will not take any enforcement action against the company.
Background of the Investigation
Immutable first revealed in October that it had received a Wells notice from the SEC, indicating possible charges for violating U.S. securities laws.
Immutable's Response to the Ruling
The company welcomed the SEC's decision, calling it an important step for the web3 gaming sector. Immutable stated its commitment to legal compliance and product development for gamers.
Broader Context for SEC and Crypto
The SEC's decision to close the investigation into Immutable aligns with the agency's broader strategy to conclude several investigations into crypto companies, including OpenSea and Uniswap.
The conclusion of the SEC's investigation into Immutable highlights the agency's evolving approach to crypto regulation and underscores the importance of legal compliance in the industry.
