CandleFocus What Will Happen to Sued Altcoins If SEC Chairman Changes After US Elections?
2024-11-02
Author: Content Editor
Blockchain-based gaming company Immutable has announced that it has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), suggesting that the company may have violated securities laws. The fate of the investigation remains uncertain, as a change in SEC leadership after the upcoming presidential election could significantly impact ongoing investigations. The current SEC chairman, Gary Gensler, could be replaced if a new administration takes office. Immutable expressed disappointment in the timing and nature of the Wells Notice, noting that it was issued just hours after initial contact from the SEC. The company also criticized the lack of constructive dialogue from certain elements of the SEC.
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