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Defending digital ownership in gaming: Immutable’s response to the SEC’s Wells Notice
We’re frustrated to share that the SEC recently sent us a Wells notice, which non-specifically alleges violations of securities law and alleged misrepresentations by the company. With this action, the SEC is continuing to indiscriminately assert that tokens are securities. While not specified in the notice, we believe its claims are targeting the listing and private sales of IMX in 2021. A Wells notice is an indication from the SEC that it is considering bringing a lawsuit against a company. It follows a spate of these notices from the SEC targeting some of the largest and most reputable actors in the space. Rest ... (full story)