Since January, the U.S. Securities and Exchange Commission (SEC) has ended several investigations into various crypto companies.
This includes firms like Kraken, Coinbase, Gemini, MetaMask, OpenSea, Robinhood, and UniSwap. The SEC has also formed a crypto task force led by Commissioner Hester Peirce. This task force aims to clarify how existing securities laws apply to cryptocurrencies.
Immutable, an Australian crypto company, welcomed the U.S. government’s efforts to establish clear regulations for digital assets. They believe that constructive regulation will provide certainty for developers and encourage innovation in blockchain technology.
Recently, the SEC closed its investigation into Immutable, which had previously issued a Wells notice in October. A Wells notice indicates that the SEC might consider bringing charges against a company.
Immutable announced that the end of the SEC’s investigation is a positive outcome for all involved in digital ownership in gaming. They stated that this decision supports their commitment to legal and regulatory compliance. The SEC did not provide any comments on this matter.
The SEC’s approach has shifted since the Trump administration returned to power and after the departure of former Chair Gary Gensler in January. Gensler had previously stated that most cryptocurrencies should be classified as securities. He also urged crypto platforms to register with the SEC and initiated several cases against exchanges and NFT entities.
