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- 📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
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SEC withdraws lawsuit against Dragonchain for unregistered securities issuance
According to Gate.io News bot and Cointelegraph, the U.S. Securities and Exchange Commission (SEC) submitted a joint statement to the Seattle Federal Court, announcing the termination of the unregistered securities issuance lawsuit against the blockchain company Dragonchain and its founder Joseph Roets.
The SEC stated in a statement that this decision is related to the latest progress of its cryptocurrency asset working group in developing a regulatory framework. Previously, the SEC filed a lawsuit against Dragonchain for raising $16.5 million through an ICO in 2017.