Immutable, a prominent blockchain protocol developed for Web3 games, has been issued a Wells Notice by the US Securities and Exchange Commission (SEC). This notice indicates that the SEC might pursue legal action against the company, reflecting the commission's regulatory approach.
This development underscores the SEC’s ongoing focus on cryptocurrency entities, particularly following a year-long monitoring of the industry. Immutable's situation exemplifies the increased regulatory scrutiny faced by blockchain projects in the rapidly evolving Web3 space.
