26-3-2025 – Australian gaming platform Immutable has received welcome relief as the US Securities and Exchange Commission (SEC) formally concluded its investigation, prompting a notable 16% surge in its IMX token value to $0.74.
The development marks a striking reversal from November’s regulatory challenge when Immutable received a Wells notice, traditionally a harbinger of potential enforcement action. The company had faced scrutiny over its 2021 IMX token offerings and listings, contributing to a dramatic 77% value erosion from its $2 benchmark.
“This watershed moment heralds a new chapter for both cryptocurrency and gaming sectors, pointing towards more transparent regulatory frameworks,” remarked Immutable’s co-founder and president, Robbie Ferguson, following the SEC’s decision to close the case.
The regulatory body’s shift appears to align with acting SEC Chair Mark Uyeda’s recent proclamation of a comprehensive review of crypto enforcement protocols, signalling a departure from previous hardline approaches.
Whilst Immutable celebrates this regulatory reprieve, other firms continue to navigate choppy waters. Unicoin remains embroiled in discussions with the SEC regarding allegations of fraudulent practices and unregistered securities offerings. Similarly, Crypto.com’s confrontation with the regulator, which included legal action against former Chair Gary Gensler over alleged jurisdictional overreach, remains shrouded in uncertainty despite the subsequent withdrawal of their lawsuit.
The IMX token, following its initial upward trajectory to $0.74, has settled at approximately $0.72, reflecting the market’s measured response to this regulatory breakthrough. This development offers a stark contrast to the token’s previous struggles, particularly the 15% decline to $1.15 witnessed when the Wells notice was first issued.
