SEC bids to drop securities suit against Dragonchain over crypto ICO

The Securities and Exchange Commission said in a joint stipulation with Dragonchain that it wants to drop its lawsuit, citing the work of its Crypto Task Force.

The US Securities and Exchange Commission is looking to drop its unregistered securities lawsuit against blockchain firm Dragonchain in the agency’s latest crypto-related backdown. 

In a joint stipulation filed with Dragonchain on April 24 in a Seattle federal court, the SEC said it “believes the dismissal of this case is appropriate,” citing the work of the agency’s Crypto Task Force in helping “develop the regulatory framework for crypto assets.”

“The Commission and the Defendants stipulate that this Litigation be dismissed with prejudice […] and without costs or fees to either party,” the filing reads.

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