Immutable

James

Marc Fagel, a former official of the U.S. Securities and Exchange Commission (SEC), has expressed concerns over the agency’s recent move to issue a Wells Notice to Ethereum-based Web3 gaming company Immutable.
The company had explained that the notice came without prior communication or comprehensive disclosure, unlike the SEC's typical comprehensive investigation process.
According to Fagel, it is rare for the SEC to issue a Wells Notice without conducting a thorough investigation, a process that typically involves months of discussions and dialogue between the regulator and the targeted company. Deviating from this standard practice can pose significant risks. “Issuing a notice without a thorough investigation or significant groundwork is risky,” Fagel said, noting that such an approach could undermine the regulator’s credibility or invite criticism of procedural fairness.
Related News: <a href="https://en.bitcoinsistemi.com/cantor-fitzgerald-ceo-with-13-2-billion-wealth-reveals-how-much-bitcoin-he-owns/" target="_blank" rel="noopener noreferrer nofollow">Cantor Fitzgerald CEO with $13.2 Billion Wealth Reveals How Much Bitcoin He Owns</a>
The incident drew attention after Immutable disclosed on Nov. 1 that it had received a Wells Notice from the SEC the previous month, indicating potential enforcement action. In addition, a letter was sent to Immutable CEO James Ferguson and the Digital Worlds Foundation, which played a role in the company’s launch of the IMX token. The letter outlined alleged violations of U.S. securities laws and raised questions about the regulatory environment for blockchain-based assets.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/former-sec-official-speaks-out-for-the-altcoin-that-the-sec-recently-threatened-something-never-seen-before/" rel="noopener noreferrer nofollow">Former SEC Official Speaks Out For The Altcoin That The SEC Recently Threatened: “Something Never Seen Before”</a>

Former SEC Official Speaks Out For The Altcoin That The SEC Recently Threatened: “Something Never Seen Before”

Bitcoin Sistemi EN

Other articles published on Nov 3, 2024

3 XRP Levels to Watch if $0.5 Gets Broken

Paws and Potential: Why Catzilla May Soon Eclipse Shiba and Dogecoin

Conflict of Interest Concerns in Altcoin Project EIGEN Lead to Resignations

Bitcoin Forms Terrifying "Gravestone Doji" Candle on Weekly Chart

Why Is Solana (SOL) Price Gaining Momentum? Key Insights Explained

Elon Musk Mentioned the Name of a New Memecoin: Price Spikes

Join our free newsletter for daily crypto updates!