Ethereum Gaming Firm Immutable Receives Wells Notice From SEC Over IMX Token Sale

Oct 31, 2024, 09:09 PM

Ethereum gaming firm Immutable has received a Wells notice from the U.S. Securities and Exchange Commission (SEC), indicating a potential enforcement action over the sale of its IMX tokens. The SEC's notice suggests that the 2021 IMX token sale may have violated securities laws. Immutable has expressed its intention to contest the SEC's allegations, arguing that the regulatory body is continuing its approach of 'regulation by enforcement.' The company highlighted that it received the Wells notice shortly after its first conversation with the SEC, suggesting an accelerated timeline possibly influenced by the upcoming election.