The US Securities and Exchange Commission (SEC) proposed to dismiss its lawsuit against Dragonchain, citing progress in establishing a regulatory framework for crypto assets. A joint stipulation was filed in a Seattle federal court on April 24, indicating that both parties believe dismissal is appropriate. The SEC had alleged that Dragonchain raised $16.5 million through an unregistered securities offering, particularly highlighting $14 million from a presale in August 2017 and subsequent token sales. The case was paused in October following Dragonchain's settlement offer. Since news of the SEC's planned dismissal, the value of Dragonchain’s DRGN token surged by 95%, though it remains significantly lower than its previous highs. The SEC's recent actions reflect a broader trend of the commission reassessing its approach to the crypto industry, especially under the new administration, which has seen the abandonment of several high-profile cases including those against Coinbase and Ripple.

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