Catenaa, Friday, May 02, 2025-The US Securities and Exchange Commission (SEC) has moved to dismiss a lawsuit against blockchain firm Dragonchain, leading to a dramatic surge in the price of its native token, DRGN.
The SEC had previously filed a suit alleging the company’s token sales violated securities laws. However, recent legal developments suggest the agency will drop the case, which has triggered a 100% increase in DRGN’s value.
Dragonchain, known for its blockchain solutions for enterprises, has long been a subject of regulatory scrutiny in the crypto space.
The dismissal of the lawsuit marks a significant victory for the firm, which has denied all allegations of illegal token offerings. The legal team’s success in navigating this case is viewed as a win for blockchain projects facing similar regulatory challenges.
Following the news, DRGN’s market price has surged, indicating investor optimism regarding Dragonchain’s future and its potential to avoid further regulatory obstacles.
