The US SEC seeks to drop a cryptocurrency ICO securities lawsuit against Dragonchain

The Securities Exchange Commission said in a joint agreement with Dragonchain that it wants to drop the lawsuit, citing work done by its cryptocurrency working group.
In a joint agreement with Dragonchain filed in Seattle federal court on April 24, the Securities Exchange Commission said it "believes it is appropriate to dismiss the case," citing work done by the agency's cryptocurrency working group in helping to "develop a regulatory framework for cryptocurrency assets." The filing reads: "The Securities Exchange Commission and Defendants agree to dismiss this lawsuit without prejudice to the interests of [...] either party and without cost or fee to either party.
The Securities Exchange Commission sued Dragonchain, its backers the Dragonchain Foundation, Dragon, and Dragonchain founder Joseph Roets in August 2024, claiming they raised $16.50 million in a crypto token that was an unregistered security offering.