SEC Ends OpenSea Investigation, No NFT Securities Action
SEC is over Opensea. The committee announced that it would not take legal action and asserts that NFTs are securities.
lead NFT Market No enforcement measures will be taken if notified. This marks the second legal action by the Securities and Exchange Commission on Friday against crypto platforms.
SEC will no longer investigate Opensea
Opensea’s co-founder and CEO Devin Finzer called the decision a victory for the NFT and Web3 communities. He said the SEC misunderstood the current law on NFTs, a mistake that could slow the industry’s progress.
“This is a victory for everyone who creates and builds in our space. Trying to classify NFTs as securities would have been a step backwards, a creator of misunderstanding the law and slowing down innovation. All should be able to build freely without unnecessary obstacles.” Write Finzer.
This result follows Be careful Last August, he won Opensea. The notice suggests that the SEC plans to initiate legal action that believes some NFTs on the platform may be securities.
Opensea set aside $5 million to support NFT artists and developers who may face similar actions. However, the fund will no longer be needed for this purpose.
At the same time, the SEC’s decision is right NFT Marketwith Opensea ready The token was launched in 2025.
Consider another Competitors have entered the cryptocurrency market Early on, regulatory probes may further damage Opensea.
Most notably, this is the second legal dismissal announced by the Securities and Exchange Commission on February 21 today. Dismissed its lawsuit against Coinbase.
The crypto exchange reported that SEC staff agreed in principle to revoke the case, awaiting final approval from the Commissioner.
Overall, the SEC appears to be scaling Encryption law enforcement Fast speed. However, its greatest legal action, Corrugated litigationstill active.
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