SEC Drops Dragonchain Crypto Lawsuit Over ICO
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The U.S. Securities and Exchange Commission has ended its legal battle with Dragonchain, marking a significant shift in regulatory approach to digital assets. The case, dismissed with prejudice in a Seattle federal court, cannot be revived.
Regulators pointed to the work of their Crypto Task Force as instrumental in reevaluating enforcement strategies. Dragonchain had faced allegations of selling unregistered securities since the SEC’s initial 2022 complaint.
This resolution arrives as policymakers grapple with balancing innovation and investor protection in crypto markets. The ’with prejudice’ dismissal sets a notable precedent for similar cases moving forward.
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