SEC Closes Investigation into CyberKongz Project: Win for Web3 Gaming

The U.S. Securities and Exchange Commission (SEC) has dropped its investigation into Ethereum-based NFT and gaming project CyberKongz, marking a significant win for Web3 companies navigating regulatory landscapes. This comes after a lengthy two-year inquiry, during which the SEC issued a Wells notice indicating potential legal action against the project. The decision eliminates uncertainty for the project and other blockchain games.