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Web3 gaming firm Immutable has been issued a Wells notice by the U.S. Securities and Exchange Commission, the company said in a statement on Friday.

Immutable is prepared to fight if the commission pursues legal action.

Immutable disclosed that the US SEC may take enforcement action against the firm as it received a Wells notice for potential securities violations. The post Immutable Hit with SEC Wells Notice for Alleged Securities Law Violations appeared first on Cryptonews.

Key Points:

Blockchain gaming platform Immutable says it received a Wells notice from the SEC over alleged securities law violations within "hours" of its first interaction with the regulator.

The SEC has issued a Wells notice to blockchain gaming platform Immutable in what has become a widespread agency crackdown on crypto companies ahead of the US election. Immutable said in an Oct. 31 blog post that the move is the latest instance of the SEC's “regulation-by-enforcement” policy targeting the crypto industry.

Immutable (IMX) was targeted by the US SEC in its latest attempt at direct lawsuits against crypto projects.

Immutable, the blockchain protocol designed for the next-generation of Web3 games said it has received a Wells Notice from the US Securities and Exchange Commission (SEC). The startup unveiled this in a recent update, a proof of the regulation by enforcement tactics of the markets regulator.

Blockchain gaming platform Immutable says the U.S. SEC has signaled that it may bring an enforcement action against it.

Like OpenSea, Uniswap, and other crypto firms, Immutable says it is the target of SEC scrutiny—describing the notice as an "overreach."

Immutable (IMX) is transforming Asia's gaming market by leveraging blockchain technology, partnering with leading studios, and spearheading Web3 gaming innovations.

Here is how some of your favorite assets concluded the week.

MetalCore is making a move from the Immutable zkEVM chain to Solana.

Despite the lackluster performance of many cryptos this week, a few altcoins crypto whales bought and increased their exposure.

Immutable (IMX) integrates Blockaid's security into Immutable Passport, offering seamless protection for over 380 games and 3 million players in the Web3 gaming ecosystem.

TOKEN2049 in Singapore highlighted Immutable (IMX)'s leadership in Web3 gaming, showcasing new business models and blockchain innovations, with a focus on mainstream adoption and global growth.

Immutable X token is on track for its first weekly loss in four weeks despite strong performance of its ecosystem. Immutable X (IMX) retreated to $1.4655 on Oct. 4, its lowest level since Sep. 9, and 22.

Immutable (IMX) price, a layer-two scaling solution for Ethereum, has shown a bullish trend over the past month, gaining 31%. Despite this increase, the price of IMX is now showing signs of volatility due to a recent market correction.

In the world of cryptocurrency, every new innovation has the potential to disrupt the market—and that's precisely what's happening with Mpeppe (MPEPE), a cutting-edge AI-powered gambling cryptocurrency that has captured the attention of major Immutable X (IMX) investors.

The Ethereum gaming platform Immutable is facing criticism for allegedly mishandling a security breach involving phishing links on its Discord server.

Immutable (IMX) teams up with GRAMPUS CWC to bring innovative Web3 games to the Immutable zkEVM platform, advancing digital ownership in gaming.

Immutable (IMX) and MARBLEX announce a strategic partnership, aiming to revolutionize Web3 gaming, as discussed at Korea Blockchain Week.

Amid regulatory changes, innovation pivots, and strategic company rebrandings, the rapid advancement of blockchain technology has created a wave of adaption globally. As it does so, media companies have been increasingly turning to this technology to address challenges in the media industry.

Over the past 24 hours, IMX has jumped an impressive 12.14%, reaching a price of $1.81. This upswing has stirred speculation about whether the token can break through a key resistance level of $2.