The US Securities and Exchange Commission (SEC) completed an investigation against the Australian company Immutable – for compulsory measures, as well as to the IMX Ecosystem Foundation.

Immutable received a notification of the possible judicial persecution in October – the SEC suspended the developer of games of violation of securities laws. We are talking about the initial proposal of coins (ICO), conducted by Immutable in 2021. Then the company raised about $ 12.5 million after the launch of its IMX token on Coinlist. Despite the pressure of the regulator, Immutable continued to insist that her IMX token is not a security.

“The SEC decision to terminate the investigation is a victory for all developers and gamers who are interested in owning assets in digital and game formats. Immutable has always complied with regulatory requirements, and we welcome the willingness of the US government to establish clear rules for the crypto industry. This will accelerate the development of blockchain technology and Web3 sector, ”said Immutable.

The company added that throughout the investigation it continued to develop products for gamers. Over the past year, the developer signed an agreement on the launch of a record number of games, launched the Immutable Play service, and Passport has registered more than a million new users.

After Immutable announced the cessation of the persecution by a financial regulator, a IMX token increased by 6%per day. Now it is trading for $ 0.6744, and its market capitalization is $ 1.2 billion.

In order to develop clear regulatory rules for industry companies, the SEC has formed a special target group under the guidance of the commissar Esther Peirce loyal to cryptocurrencies. In February, the SEC stopped investigating the activities of the platform for the release and trade of NFT Opensea, in the same month the department officially closed the case against the decentralized Uniswap crypto -tank.