Odaily Planet Daily News Ethereum game company Immutable received a Wells notice from the U.S. SEC and was accused of suspected violations of securities laws. A spokesperson for the U.S. SEC said that the U.S. Securities and Exchange Commission (SEC) sent a Wells notice to Immutable last month, warning the maker of the Ethereum gaming platform that it may soon face enforcement action. Immutable said in a statement that the regulator also sent a letter to the company's CEO James Ferguson and the Digital Worlds Foundation, which helped issue Immutable's IMX token, detailing alleged violations of securities laws. Although the company claims that the SEC did not fully explain the alleged misconduct, Immutable believes that the charges stem from the IMX sale in 2021. At the time, Immutable tweeted that the company quickly raised at least $12.5 million after the IMX token was listed on the CoinList platform. In addition, the SEC also accused Immutable of making false statements to the public about its token support. This includes "pre-IPO investment" in IMX. An Immutable spokesperson said, “While the SEC indiscriminately claims that tokens across the industry are securities, we believe that the IMX token is not, and the notice merely cites statutory provisions and contains limited meaningful details.” (Decrypt)

#SEC