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MainNewsImmutable Re...

Immutable Receives Wells Notice From SEC Over IMX Token


by Nynu V Jamal
for CoinEdition
Immutable remains confident in its IMX token’s status despite receiving a Wells Notice from the SEC.
  • The SEC issues a Wells Notice to Immutable, targeting the company’s native token, IMX.
  • Immutable remains confident in IMX’s status and expresses readiness to combat SEC’s claims.
  • The platform expressed dissatisfaction with the SEC’s sudden enforcement with minimal warning.

The US Securities and Exchange Commission (SEC) has sent a Wells Notice to Immutable, the Australian crypto gaming platform, without specifying the allegations. In response, Immutable suggested the SEC may be targeting the company’s native IMX token. The platform also expressed confidence in its stance and said it is ready to contest the regulator’s claims.

Read also: Trump Vows to Remove SEC’s Gensler, Supports Pro-Crypto Shift

In an official blog, Immutable said it received a ten-minute call from the SEC, informing the platform of the agency’s enforcement action. Immutable said the SEC pointed to a 2021 blog post about a pre-launch investment in IMX tokens, calling it inaccurate. The agency claimed that Immutable’s statement about the IMX token’s pre-launch sale price of $0.10 (later split to $10) misrepresented the transaction, implying no actual value was exchanged. In …

The post Immutable Receives Wells Notice From SEC Over IMX Token appeared first on Coin Edition.

Read the article at CoinEdition

Read More

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MainNewsImmutable Re...

Immutable Receives Wells Notice From SEC Over IMX Token


by Nynu V Jamal
for CoinEdition
Immutable remains confident in its IMX token’s status despite receiving a Wells Notice from the SEC.
  • The SEC issues a Wells Notice to Immutable, targeting the company’s native token, IMX.
  • Immutable remains confident in IMX’s status and expresses readiness to combat SEC’s claims.
  • The platform expressed dissatisfaction with the SEC’s sudden enforcement with minimal warning.

The US Securities and Exchange Commission (SEC) has sent a Wells Notice to Immutable, the Australian crypto gaming platform, without specifying the allegations. In response, Immutable suggested the SEC may be targeting the company’s native IMX token. The platform also expressed confidence in its stance and said it is ready to contest the regulator’s claims.

Read also: Trump Vows to Remove SEC’s Gensler, Supports Pro-Crypto Shift

In an official blog, Immutable said it received a ten-minute call from the SEC, informing the platform of the agency’s enforcement action. Immutable said the SEC pointed to a 2021 blog post about a pre-launch investment in IMX tokens, calling it inaccurate. The agency claimed that Immutable’s statement about the IMX token’s pre-launch sale price of $0.10 (later split to $10) misrepresented the transaction, implying no actual value was exchanged. In …

The post Immutable Receives Wells Notice From SEC Over IMX Token appeared first on Coin Edition.

Read the article at CoinEdition

Read More

US SEC Approves ProShares XRP Futures ETFs Launch

US SEC Approves ProShares XRP Futures ETFs Launch

In a major boost for crypto investors, the United States Securities and Exchange Comm...
New SEC Chair Slams Gensler for Stifling Crypto Innovation

New SEC Chair Slams Gensler for Stifling Crypto Innovation

Newly appointed SEC Chair Paul Atkins addressed the public. Atkins praised pro-crypto...