In the latest development, the US Securities and Exchange Committee (SEC) has abandoned its case against Dragonchain, a Blockchain project, as the Agency is making its own regulatory approach U-turn.
The update was revealed Eleanor TerrettFormer Fox business correspondent and Cryptoamerica journalist.
The Securities and Exchange Committee have reached an agreement with Dragonchain, agreeing to give up his continued litigation against the company, Terrett said. Moving is consistent with the current approach of SEC to cryptocurrency, which has seen the enforcement measures and investigation.
Between them
In recent months, the Securities Valve Dog has fallen or suspended several lawsuit against cryptocurrency companies, including some include some of the most prominent players in the industry. The ongoing coincidence includes high -level litigation against cryptocurrency exchanges Coinbase and Binance, which were excavated in the middle of the day, as well as threats to court proceedings in Robinhoodh, Uniswap and OpenSea. Last month, Ripple revealed that the SEC gave up the Crypto Company.
What happens?
SEC lodged its case against Dragonchain in 2022, accusing the project of unregistered securities through its 2017 initial coin offering (ICO), which allegedly collected millions of dollars. According to the regulator, the dragonchain DRGN sign corresponds to the definition of security under the Howey test.
Between them
In a joint submission of Thursday, SEC and Dragonchain asked the court to dismiss the case of 2022, noting the continuing work of the crypto working group. The working group formed in January is now meeting the industry through a round tables series to give direction of how digital assets may or may not or not.
Currently, the comments of Paul Atkins, chairman of the SEC Chairman of the SEC, are currently being drawn up today, April 25, from 1 pm to 5 pm. The newly appointed SEC Chairman will appeal to the crypto community about the third industry roundtable of the Agency in cryptocurrency, the first after his candidacy in December.
