OpenSea Cleared: SEC Ends NFT Investigation Without Action
- SEC closes investigation into OpenSea, no enforcement action on NFTs as securities.
- OpenSea founder celebrates SEC’s decision as a win for creators and the NFT community.
- SEC drops Coinbase lawsuit and signals a shift in regulatory approach to NFTs and crypto.
The U.S. Securities and Exchange Commission (SEC) has decided to drop its investigation into OpenSea, the largest NFT marketplace, opting not to take legal action. This decision is seen as a positive sign for the NFT industry. OpenSea founder Devin Finzer celebrated the report’s conclusion, calling it a win for creators and the Web3 community.
The SEC’s probe into OpenSea began in August 2024 after the agency issued a Wells notice indicating its intent to take legal action. The main question was whether some non-fungible tokens (NFTs) traded on the platform should be classified as securities.
NFT Industry Gains Ground as SEC Steps Back
Previously, the SEC had raised concerns about whether NFTs might be considered securities under securities laws. This was part of its ongoing efforts to regulate the cryptocurrency and digital asset industries. However, after a lengthy investigation, the SEC has…
The post OpenSea Cleared: SEC Ends NFT Investigation Without Action appeared first on Coin Edition.
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OpenSea Cleared: SEC Ends NFT Investigation Without Action
- SEC closes investigation into OpenSea, no enforcement action on NFTs as securities.
- OpenSea founder celebrates SEC’s decision as a win for creators and the NFT community.
- SEC drops Coinbase lawsuit and signals a shift in regulatory approach to NFTs and crypto.
The U.S. Securities and Exchange Commission (SEC) has decided to drop its investigation into OpenSea, the largest NFT marketplace, opting not to take legal action. This decision is seen as a positive sign for the NFT industry. OpenSea founder Devin Finzer celebrated the report’s conclusion, calling it a win for creators and the Web3 community.
The SEC’s probe into OpenSea began in August 2024 after the agency issued a Wells notice indicating its intent to take legal action. The main question was whether some non-fungible tokens (NFTs) traded on the platform should be classified as securities.
NFT Industry Gains Ground as SEC Steps Back
Previously, the SEC had raised concerns about whether NFTs might be considered securities under securities laws. This was part of its ongoing efforts to regulate the cryptocurrency and digital asset industries. However, after a lengthy investigation, the SEC has…
The post OpenSea Cleared: SEC Ends NFT Investigation Without Action appeared first on Coin Edition.
Read More
NFT Sales Dropped Another 12% In March As Several Marketplaces Close