SEC Dismisses Lawsuit Against Dragonchain, Sparks Surge in DRGN Token
yesterday / 21:12
The U.S. Securities and Exchange Commission has dismissed its lawsuit against blockchain firm Dragonchain over allegations regarding the sale of DRGN tokens as unregistered securities. This regulatory decision comes as part of a broader trend in which the SEC appears to be stepping back from aggressive enforcement, as seen in similar cases involving Ripple and Coinbase. The dismissal has alleviated legal uncertainties surrounding Dragonchain, leading to a remarkable 95% increase in the DRGN token price within 24 hours. Investors have responded with marked confidence, viewing the move as a sign of renewed viability and an evolving regulatory environment that may benefit the wider crypto market.
The news eliminates major regulatory risk for DRGN by resolving the SEC lawsuit, resulting in a significant, immediate price surge of 95%. The positive sentiment, bolstered by clearer legal standing and a shift in regulatory approach, is likely to continue supporting short-term gains. In the long term, the reduction in legal ambiguities could attract institutional and investor confidence, sustaining upward momentum. However, market volatility and external economic factors will continue to influence price dynamics over time.
Sources
Top Today
today / 04:35
Trump-Linked WLF Partners With Pakistan Crypto Council to Boost Blockchain and DeFi Ambitions
WLF's new collaboration with the Pakistan Crypto Council is set to stimulate regulatory and technological growth in Pakistan's crypto sector.
today / 02:24
Ethereum Eyes $2,580 as Leadership Dialogue Spurs Bullish Momentum
Vitalik Buterin’s and Charles Hoskinson’s exchange drives renewed bullish sentiment for Ethereum’s near-term rally.
yesterday / 22:03
Bitget Initiates Legal Action Over $20M VOXEL Manipulation Incident
Eight accounts face legal scrutiny over VOXEL trade manipulation, prompting calls for better risk control and regulatory oversight.