In a surprising development, decentralized gaming platform Immutable has claimed to have received a discretionary Wells notice from the US Securities and Exchange Commission (SEC) less than 24 hours after the company’s initial interaction with the regulator. The Wells notice potentially implies they could face legal action related to alleged securities law violations.
This incident highlights the uncertainty surrounding the legitimate status of various non-fungible tokens (NFTs) and blockchain gaming platforms in the United States. Immutable’s swift response to the Wells notice involves swearing to ensure their non-compliance with regulatory matters under SEC scrutiny.
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