Dragonchain stands for 97% while SEC moves to give up a long-term litigation

DRGN DRGN gathered over 97% after US Securities and Exchange said to dismiss their long-term anti-project lawsuit due to alleged unregistered sales securities.

According to a common submission 24. April, Sex and Dragonchain agreed that the case should be rejected by prejudice, which means it cannot be prefilled. The Sex stated his newly established working group crypto and said the fall of the suits was the appropriate step.

Lawsuit, originally Submitted in August 2022. YearsThe Accused DragonChain, its foundation and founder of Josiph, grow 16.5 million dollars through unregistered token sales.

The case of the Commission is focused on Subsolved 2017. year, which raised $ 14 million through DRGN token, and additional $ 2.5 million was sold between 2019 and 2022. years to finance business operations and technological development.

At that time, the regulator claimed that DRGN qualified as an investment contract and should be registered in securities laws.

The case, however, was paused in October 2024. years, after DragonChain submitted a settlement offer and was later extended in January, after a Main Executive Order From Trump President who called for the United States to take a leading role in digital property.

The order has submitted a broader review of how the cryptocurrency was regulated in the United States, and the sec stated this shift in approach when deciding to withdraw from DragonChain.

In fact, a newly formed wiper for crypto, established day after Trump returned to the office, met with DragonChain representatives of 24. Marta. According to an Interior memory of the agencyThe discussion is focused on how the SEC should bring the crypto regulations closer, with a focus on block non-financial applications.

Dragonchain’s team, led by the founder of Joe Roets, claimed blockchain should be seen as fundamental software, which is used for transparency, identity and automation, not exclusively as a financial instrument.

For Dragonchain, the turnaround marked a sharp reversal for DRGN, which is during 2021. years. What is DRGN still largely, but the token formed two Gody candles after the news, shooting almost 100% in the last 24 hours.

Since the beginning of the year, SEC was constantly walking from some of its largest cryptian battles. Pulled long-lasting lawsuits against Coin, Riplleand Geminicases that defined the agency once Hardline stance on digital property under the former Gare Grent Garer.

As before export Crypto.news recently rejected his case of fraud against HEK founders of Richard Heart, after the Federal Judge dropped the appeal, and SEC decided not to change it.