Outside Source
OpenSea founder Devin Finzer announced that the SEC is closing its investigation into the NFT platform, calling it “a win for everyone” in the industry.
News
The founder of OpenSea has confirmed that the United States Securities and Exchange Commission (SEC) has concluded its probe into the non-fungible token (NFT) marketplace.
“The SEC is closing its investigation into OpenSea. This is a win for everyone who is creating and building in our space,” OpenSea founder and CEO Devin Finzer said in a Feb. 21 X post.
Source: Devin Finzer
Finzer said that labeling NFTs as securities would have hurt the industry and stifled innovation.
“Every creator, big or small, should be able to build freely without unnecessary barriers,” Finzer said.
In August 2024, the SEC issued a Wells notice to OpenSea, stating that it had served as a marketplace for unregistered securities.
It came just hours after the SEC agreed to dismiss its lawsuit against the crypto exchange Coinbase, which accused the company of operating as an unregistered securities broker.
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
