Immutable, the blockchain protocol designed for the next-generation of Web3 games said it has received a Wells Notice from the US Securities and Exchange Commission (SEC). The startup unveiled this in a recent update, a proof of the regulation by enforcement tactics of the markets regulator.

Immutable Next on US SEC List

After a year-long crackdown moves in the digital currency ecosystem, one might think the US SEC will slow down ahead of the elections. However, Immutable revealed in its announcement that the regulator now alleges it might have violated Federal Securities laws over its native token IMX.

The expressed frustration with the Wells Notice, and noted that it is ready to fight for its rights if required. Notably, OpenSea also received a Wells Notice from the markets regulator in August.

This is a breaking news, please check back for updates!!!

The post Breaking: Immutable Receives Wells Notice From US SEC appeared first on CoinGape.

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