Another Crypto Probe Dropped: SEC Clears Immutable of Wrongdoing
The SEC has ended its investigation into Web3 gaming firm Immutable with no findings of wrongdoing, marking another dropped crypto probe amid the regulators shifting stance on enforcement.
SEC Drops Probe Into Immutable
The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Australian Web3 gaming firm Immutable, marking yet another dropped probe into a crypto company. The regulator concluded its inquiry with no findings of wrongdoing.
Last year, Immutable had disclosed that it had received a Wells Notice from the SEC in October. The agencys investigation focused on the companys 2021 listing and private sales of its native IMX token, raising concerns about potential securities law violations. However, Immutable maintained its compliance with regulatory requirements throughout the process.
Immutables Response and Growth
The Immutable team was finally able to breathe in relief when Immutable co-founder Robbie Ferguson shared the development in a post on X (formerly Twitter), stating:
"The SECs decision to end its investigation is a win for all builders, creators and gamers fighting for true digital ownership in gaming. This vindicates Immutables longstanding focus on legal and regulatory compliance."
Ferguson also emphasized the companys continued progress despite regulatory scrutiny. Over the past year, Immutable launched the Immutable zkEVM blockchain, formed partnerships with three multi-billion-dollar firms, and saw 4.9 million sign-ups for its Passport product. The company also expanded its gaming catalog to include over 500 titles.
He added,
There are 3.5 billion gamers in the world, and Web3 solves the problem of digital ownership for them with real utility + PMF. Overcoming this investigation was a big step to bringing them on-chain, but were still early days.
SECs Regulatory Shift
The SEC declined to comment on the matter, maintaining its usual stance of not confirming or denying the existence of investigations.
The closure of Immutables case is part of a broader shift in the SECs approach to crypto regulation. Under Acting Chair Mark Uyeda, the agency has moved away from the aggressive enforcement tactics associated with former Chair Gary Gensler. Uyeda has launched a Crypto Task Force led by Commissioner Hester Peirce and initiated roundtable discussions with industry stakeholders to reshape regulatory policy.
Since U.S. President Donald Trump took office earlier this year, the SEC has dropped investigations into several crypto firms, including Gemini, Robinhood, OpenSea, and Yuga Labs. The agency has also ended litigation against Kraken, Coinbase, ConsenSys, Ripple, and Cumberland DRW, while pausing ongoing cases against Tron and Binance.
With regulatory winds shifting, the crypto industry is closely watching how the SECs evolving stance will impact future enforcement actions and compliance frameworks.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Read more: https://cryptodaily.co.uk/2025/03/another-crypto-probe-dropped-sec-clears-immutable-of-wrongdoing
Text source: Crypto Daily™
