SEC Closes Case Against Dragonchain — Is a Retreat Wave Beginning?

✊ The U.S. Securities and Exchange Commission (SEC) has filed a joint motion with representatives of Dragonchain to close the case that began in 2022. At that time, the company and its founder John Ruehls were accused of an unregistered ICO of $16.5 million in 2017.

🔵 What Happened:

1️⃣ The SEC sought a ban on activities and compensation payments to investors.

2️⃣ The allegations involved Dragonchain, Dragonchain Foundation, and Dragon Company.

🔄 Now the regulator is ready to drop the lawsuit — the decision is related to the arrival of new SEC Chairman Paul Atkins and the launch of a targeted crypto group that is reviewing cases from the Gary Gensler era.

🔺 Previously, commission member Hester Peirce stated there is a possibility of immunity for token issuers willing to operate transparently and disclose relevant information.

📉 Against the backdrop of this decision, it is also reported that the SEC has postponed consideration of several new crypto ETFs — investors perceived 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.

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