#cryptonews
The US SEC has dropped its investigation into Web3 gaming company Immutable, deciding not to pursue any enforcement action over its IMX token, the company said.
The Australia-based firm announced the development Wednesday, marking another win for crypto companies that had faced intense regulatory scrutiny under the agency’s previous leadership.
Immutable celebrated the decision as “a win for all builders, creators and gamers fighting for true digital ownership in gaming.”
“Today we are happy to report that the SEC has formally decided to end its investigation into Immutable, the IMX Ecosystem Foundation, and Immutable’s CEO,” it said in a statement. “The SEC will not be taking any enforcement action. This brings the matter to a close.”
According to the company, the SEC’s investigation focused on possible securities violations. It also looked at misleading statements linked to the 2021 launch and sale of its IMX token. However, the agency did not explicitly name the token in its communications.
Immutable, known for building blockchain-powered gaming infrastructure, revealed in November that it had received a Wells notice from the SEC.
While some investigations, like those into Binance and OpenSea, have been paused rather than fully dismissed, the trend signals a significant change in tone.
Over the past several months, the agency has quietly walked back a string of high-profile cases, including actions against Coinbase, Gemini, Kraken, Robinhood, Uniswap, Yuga Labs and Consensys.
The dropped probe into Immutable is part of a broader shift in the SEC’s crypto enforcement stance.
Gensler had spearheaded a “regulation by enforcement” approach, using legal action to extend the agency’s reach over digital assets.
This reversal coincides with the political transition to the second Trump administration and the resignation of former SEC Chair Gary Gensler in Jan. 2025.
On Jan. 21, the SEC launched a Crypto Task Force aimed at creating clear, actionable guidelines for the digital asset sector.
The move signaled a pivot toward clarity and collaboration, replacing the agency’s previous reliance on lawsuits and ambiguous regulatory boundaries.
His departure, along with the rise of Acting Chair Mark Uyeda and Commissioner Hester Peirce—both seen as more favorable to the crypto industry—has altered the regulatory landscape.