BlockBeats News, April 16th, according to TheBlock, Ethereum NFT and gaming project CyberKongz announced that the U.S. Securities and Exchange Commission (SEC) has concluded its investigation with no charges or enforcement action.
Yesterday, CyberKongz posted on Platform X confirming that the SEC's investigation has officially ended and revealed plans to launch a "brand reshaping" initiative. CyberKongz stated that the SEC's enforcement team put forward "a very concerning argument that a token (ERC-20) cannot be used in conjunction with a blockchain game without registering it as a security first."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.