The U.S. Securities and Exchange Commission (SEC) has filed a joint petition with Dragonchain representatives to close the case, which began in 2022. At the time, the company and its founder, John Ruets, were accused of an unregistered $16.5 million ICO in 2017.
What happened:
SEC demanded a ban on activities and compensation payments to investors
The charges involved Dragonchain, the Dragonchain Foundation, and the Dragon Company
Now the regulator is ready to drop the lawsuit - the decision is due to the arrival of the new head of the SEC, Paul Atkins, and the launch of a crypto task force that is reviewing the cases of the Gary Gensler era.
Earlier, commission member Hester Peirce announced the possibility of exemption from liability for token issuers if they are ready to work transparently and disclose up-to-date information.
Against the backdrop of this decision, it is also reported that the SEC has postponed consideration of a number of new crypto ETFs - investors took this as a signal of uncertainty, but also as a step towards clearing the landscape of old conflicts.
The list of potential closures also includes cases against Ripple, Coinbase, ConsenSys, Gemini, Uniswap, and others.
