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Dragonchain Token Soars 130% Following SEC’s Decision to Drop Securities Case
Dragonchain Token Soars 130% Following SEC’s Decision to Drop Securities Case
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The U.S. Securities and Exchange Commission has abruptly dismissed its lawsuit against Dragonchain, triggering a 130% surge in the blockchain platform’s native token, DRGN. Trading volume exploded by 6000% within hours of the regulatory retreat.
This enforcement reversal signals a potential paradigm shift for crypto oversight under the current administration. The SEC had accused Dragonchain of conducting unregistered securities offerings during its 2017 ICO and subsequent token sales.
Market participants are interpreting the dismissal as a watershed moment for regulatory clarity. The SEC’s Crypto Assets and Cyber Unit appears to be re-evaluating its approach to digital asset classification and enforcement priorities.
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