Immutable, a Web3 gaming platform, has announced that the US Securities and Exchange Commission (SEC) has concluded its investigation, finding no violations.
The company, known for its Ethereum layer 2 solution Immutable X, stated on March 25 that the SEC had closed its investigation, effectively resolving the Wells notice issued last year.
In November, Immutable disclosed receiving a Wells notice from the SEC, indicating that the regulator was considering enforcement action due to potential securities law violations.
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Robbie Ferguson, president and co-founder of Immutable, said:
"We are pleased the SEC has concluded its inquiry. This marks a significant milestone for the crypto industry and gaming as we advance towards a future with regulatory clarity."
The SEC has sent a termination letter, although it does not clarify the reasons for ending the investigation.