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duytdcrypto
@duytd1
The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Web3 gaming platform Immutable without taking any enforcement action. The investigation began in October 2024 when Immutable received a Wells Notice, related to alleged securities law violations in its 2021 IMX token sale. Immutable countered that the SEC was abusing its power, asserting that IMX was not a security. The SEC's withdrawal of the investigation is part of a broader trend by the Trump administration, as it has scaled back lawsuits against crypto companies and established a task force led by Hester Peirce. IMX was previously dumped by GameStop in 2022, sparking controversy over ETH proceeds from Immutable X trades. Meanwhile, GameStop recently updated its investment policy to accept Bitcoin.
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