Blockchain-based gaming company Immutable announced in a post on X on Thursday that it had received a Wells Notice from the US Securities and Exchange Commission (SEC).
This notice indicates that the SEC has completed an investigation and believes Immutable may have violated securities laws. However, with the potential for a change in SEC leadership following the upcoming presidential election, the fate of this investigation remains uncertain.
The SEC’s current chairman, Gary Gensler, could be replaced if a new presidential administration takes office on January 20. This shift could significantly impact ongoing investigations, including Immutable’s. “Ongoing investigations at the SEC could be significantly impacted by a change in leadership,” said Austin Campbell, CEO of Worldwide Stablecoin Payment Network (WSPN). Campbell suggested that investigations could be reprioritized, modified or even abandoned under new leadership.
Republican candidate Donald Trump has vowed to fire Gensler on his first day in office, but the legal feasibility of such an action is unclear. Meanwhile, sources close to Vice President Kamala Harris’s election campaign stated that Harris’s transition team is also evaluating potential names to replace Gensler.
Immutable expressed disappointment in the timing and nature of the Wells Notice, noting that it was issued just hours after the company was first contacted by the SEC. This left little time for response or cooperation, as companies were often approached by the SEC months before such notices were issued. The notice reportedly contained only 20 words describing areas of potential securities violations, causing Immutable to question which assets were under review.
Gensler’s tenure has been a period of what critics in the cryptocurrency industry describe as “regulation by sanctions” and a focus on punitive actions rather than proactive rulemaking. Immutable’s statement pointed to a lack of constructive engagement by some parts of the SEC: “We welcome regulatory clarity, but it appears that some elements of the SEC are unwilling to engage in constructive dialogue,” the company said.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/abd-secimlerinden-sonra-sec-baskani-degisirse-dava-acilan-altcoinlerin-durumu-ne-olacak/
