U.S. SEC Ends Probe Into Immutable Without Taking Enforcement Action

Immutable, a gaming protocol, announced on X that the United States Securities and Exchange Commission (SEC) has dropped its investigation against the platform. The decision means the market regulator will not pursue any further action, effectively ending the legal scrutiny Immutable faced in the U.S.

Last year, the SEC issued Immutable a Wells Notice.

That inquiry is now officially closed, with zero findings of wrongdoing, and the SEC is taking no action.

This is a huge win – not just for web3 gaming, but everyone who believes in digital ownership rights.

Let’s build.

— Immutable (@Immutable) March 25, 2025

Following the news on Tuesday, IMX, Immutable’s native token, surged considerably. According to TradingView data, the asset rose over 15% to $0.753 before stabilizing near its current price.

Immutable Freed From SEC’s Shackles

In October last year, the SEC issued a Wells Notice to Immutable, suggesting the platform may have violated federal securities laws regarding its IMX token. However, Immutable consistently denied any wrongdoing. With the case closed, the firm highlighted that the SEC found no violations, calling the decision a significant victory for the Web3 gaming sector.

“This is a huge win – not just for web3 gaming, but everyone who believes in digital ownership rights,” the platform stated.

Notably, the development follows a broader shift in SEC enforcement under Acting Chair Mark Uyeda. Since stepping into the role in January, Uyeda has overseen the dismissal of several high-profile investigations, signaling a departure from the aggressive approach seen during Gary Gensler’s tenure.

In recent weeks, the SEC has closed probes into major crypto firms such as Gemini, Robinhood, OpenSea, and Yuga Labs. Additionally, legal actions involving companies like Coinbase, Ripple, and Kraken have either been dropped or put on hold.

Crypto Task Force for Clearer Regulations

The SEC has also introduced a new Crypto Task Force, led by Commissioner Hester Peirce, a strong advocate for clearer regulatory frameworks. The initiative aims to shift from enforcement-driven actions toward formal rulemaking and industry engagement.

Since its formation in January, the task force has taken a more transparent approach, hosting public discussions on key issues like digital asset classification, crypto platforms, custody solutions, tokenization, and decentralized finance.

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