Hello friends,
Security and Exchange Commission (SEC) is surely not doing good work. They have been trying to target the companies and projects dealing in crypto. They have done it already with many exchanges and now they are running behind a gaming project. Its Immutable and its a popular gaming project in the web3 segment of the crypto market.
Immutable has received the well notice from the SEC and this will start legal action from the SEC side. According to the Security and Exchange Commission, the immutable coin is a security. It is one of the popular projects in the crypto market and after this notice issued by the Government Authority, we may see the impact on the coin price in the market. The project has already shared the update on social media and they have mentioned that they will be fighting back with the Security and Exchange Commission about this.
Crypto gaming platform Immutable has pledged to fight any potential enforcement action from the United States Securities and Exchange Commission after receiving a Wells notice from the regulator.
Earlier we saw that uni swap was also served notice by SEC but thereafter no update has been shared on this case. Now looks like Immutable is also going to be the next project like this where the SEC will be targeting them and if the project itself is ready to fight back then things might not be that bad hopefully. We are in the election situation in the U.S. and if Donald Trump wins the election then hopefully this situation will improve for companies operating in the Crypto market.
I hope it happens soon so that many other crypto exchanges and such projects get some relief from the Security and Exchange Commission. It is fine for the government authorities to keep control of such projects but it is also not fair to target those projects just because they are dealing in Crypto.
Thank you
Peace @mukund123