SEC Backs Down: Dragonchain Escapes ICO Lawsuit in Surprise Move

Regulators fold their hand—Dragonchain’s 2017 token sale dodges legal reckoning as SEC quietly drops case. Another win for crypto’s ’move fast and break things’ playbook.

Behind the scenes: Bureaucrats realized chasing a six-year-old ICO was about as productive as auditing a meme stock’s fundamentals. The ’Howey Test’ meets the ’Whatever Test’.

Closing thought: When even the SEC gets tired of playing whack-a-mole with pre-bull market projects, maybe it’s time to admit the regulatory playbook needs a chain upgrade.

Following news of the dismissal, Dragonchain’s DRGN token jumped 128% in 24 hours, according to CoinGecko. It’s still far below its all-time high of $5.46 in 2018, but the spike broke a months-long slump.

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