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Immutable, a blockchain gaming platform, revealed that it had received a so-called notification Wells from the American The Securities and Exchange Commission (SEC). This is a signal that SEC suspects possible violations of regulations related to the issuance of tokens by Immutable, especially in the context of activities with in 2021 regarding private token sales IMX. This is the first time a gaming company from the sector has been in this situation. Web3 is the direct recipient of the actions SEC, which has sparked discussions about the future of blockchain industry regulation in the context of gaming.
Immutable Becomes First Web3 Gaming Entity in SEC's Crosshairs
SEC focused on activities Immutable related to the listing and sale of tokens IMX, pointing out inconsistencies in the company's statements regarding pre-launch financial support from the stock exchange Huobi. In particular SEC raises objections to information about the investment price of tokens IMX amounting to 0,10 USD for the token, which according to the regulator was misleading about the actual value of the exchange. Immutable, despite the frustration with the accusations, assures that it will continue its operations and development of gaming products without interruption. Here is part of their statement:
"We believe that our actions were compliant with applicable regulations and transparent with our community and investors (...) Despite the current challenges, we are fully committed to further developing our platform and building a sustainable gaming ecosystem in the spirit of openness and full digital ownership. (...) Our team will actively defend its position while continuing to implement our mission to advance web3 games."
Some time ago another entity, because Ripple won a significant victory in the fight against the American Securities and Exchange Commission. The court ruled that the sale of tokens XRP on exchanges does not violate securities laws. This ruling was crucial for the entire cryptocurrency industry as it set a precedent by limiting the possibility of SEC cryptocurrencies as securities. This case also showed that cryptocurrencies are not at a disadvantage in the fight against regulation.
The Rise of Regulatory Challenges for Blockchain Games
Actions SEC to Immutable are a precursor to broader regulatory changes that could impact the entire blockchain gaming environment. Immutable, headed by the founder Robbie Ferguson, expressed its willingness to cooperate with other blockchain companies. The aim is to develop a clear and fair legal framework that would support the development of the sector. In the face of the changing legal situation, the gaming industry Web3 can expect more stringent standards regarding token sales and transparency of activities, which will ultimately require additional entities to adjust their compliance strategies.
What is Immutable?
Immutable is an innovative gaming platform based on blockchain technology. It enables the creation, sale and trade of digital assets and NFT (non-fungible tokens) in games. With its flagship token IMX and dedicated infrastructure Immutable X, the company has become a pioneer in the industry web3. Immutable actively supports the development of digital ownership in gaming, striving to give users full control over their in-game assets. At the same time, the company faces regulatory challenges, as shown by a recent notification Wells od SEC. This highlights the growing interest of regulators in the blockchain gaming sector.
Źródła: gam3s.gg
