The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Australian crypto-gaming company Immutable, taking no enforcement action against the firm.

In a statement on March 26, Immutable confirmed that the SEC had ended its probe without pursuing charges against the company, the IMX Ecosystem Foundation, or its CEO. 

This resolution follows an October disclosure from Immutable, in which it revealed receiving a Wells notice—a signal that regulators were considering potential securities law violations.

With the matter now closed, Immutable sees the outcome as validation of its commitment to legal and regulatory compliance. The company welcomed the SEC’s decision, calling it a positive development for the web3 gaming industry. 

Throughout the investigation, Immutable remained focused on expanding its ecosystem, launching Immutable Play, onboarding a record number of games, and surpassing one million users for its Passport system.

IMX Surges After SEC’s Announcement 

Following the news, IMX, Immutable’s native token, surged 6% in the past 24 hours. The SEC’s decision and Immutable case drop aligns with the agency’s broader trend in its crypto enforcement strategy. 

Since the beginning of the year, SEC has dropped investigations into several other crypto companies, including OpenSea, Immutable, Uniswap, Robinhood, and Gemini. In an effort to provide clearer guidelines for digital assets, the SEC has also established a dedicated crypto task force, led by Commissioner Hester Peirce.

Meanwhile, Ripple is nearing the conclusion of its prolonged legal battle with the SEC. On March 20, reports confirmed that the agency had dropped its appeal against Ripple without conditions. 

Additionally, on March 26, Ripple’s legal team announced that the company would not pursue a counter-appeal. As part of the settlement, Ripple secured a reduced fine, lowering its original $125 million penalty to $50 million.