CryptoMediaClub
Monday, July 28, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

SEC Calls NFTs Securities and Plans to Sue OpenSea

29.08.2024
A A
0
119
VIEWS
ShareShare

NFT marketplace OpenSea received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), in which the regulator claims that non-fungible tokens (NFT) traded on the platform may qualify as unregistered securities.

SEC Charges OpenSea with Securities Law Violations

The U.S. Securities and Exchange Commission (SEC) sent a Wells Notice to OpenSea, a trading platform for non-fungible tokens. According to Devin Finzer, CEO of the marketplace, the regulator accuses the platform of violating securities laws.

The SEC believes that some NFTs traded on OpenSea may qualify as unregistered securities. Following the investigation, the regulator is prepared to file a lawsuit against the platform.

Finzer assured that the company is ready to fight any possible sanctions. He emphasized that the SEC’s actions could set a precedent that would negatively impact the entire NFT industry, putting hundreds of thousands of artists and creators at risk, many of whom lack the resources to defend themselves in court. Therefore, OpenSea will create a special fund and allocate $5 million for the legal defense of NFT creators in the face of the SEC’s attacks.

Many in the crypto industry criticized the SEC’s actions. Ji Kim, General Counsel of the Crypto Council for Innovation (CCI), said that it’s utterly ridiculous for the SEC to label the NFT marketplace as a securities exchange, arguing that it’s legally incorrect. Katherine Minarik, CLO at Uniswap Labs, also criticized the regulator’s approach, asserting that there’s no law classifying collectibles as securities, so NFTs can’t be categorized as such. She also expressed deep regret that the regulator continues to waste resources meant for investor protection on pointless litigation.

Some U.S. officials also opposed the SEC’s actions. Wiley Nickel, Congressman from North Carolina, said that SEC Chair Gary Gensler should stop regulating through enforcement and work with Congress to create clear and fair rules that support innovation and preserve jobs in the United States. By the way, Gensler was named by crypto industry representatives as the driving force behind the latest threats against the crypto community.

Earlier, the SEC issued Wells Notices to Uniswap, Robinhood, and Paxos and filed lawsuits against Binance, Coinbase, Bittrex, and Kraken.

Сообщение SEC Calls NFTs Securities and Plans to Sue OpenSea появились сначала на CoinsPaid Media.

Share9Tweet6ShareSharePin2

Related Posts

South Korean Crypto Exchanges Paid Customers $87M in Interest in Past Year
All news

South Korean Crypto Exchanges Paid Customers $87M in Interest in Past Year

28.07.2025
0

South Korean crypto exchanges paid their customers $87 million worth of interest on their fiat deposits in the past 12...

Read moreDetails
Tyler Winklevoss Says JPMorgan Halted Gemini Onboarding Over Public Criticism

Tyler Winklevoss Says JPMorgan Halted Gemini Onboarding Over Public Criticism

28.07.2025
Ripple’s Chris Larsen Still Holds 2.58B XRP, Analyst Warns of Potential Sell Pressure

Ripple’s Chris Larsen Still Holds 2.58B XRP, Analyst Warns of Potential Sell Pressure

27.07.2025
Solana Price Prediction: SOL Breaks Key Resistance – What This Means for Future Gains

Solana Price Prediction: SOL Breaks Key Resistance – What This Means for Future Gains

27.07.2025
Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle

Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle

27.07.2025
Load More
Next Post
Oasys Partners With SBI Holdings to Boost Blockchain Gaming in Japan

Oasys Partners With SBI Holdings to Boost Blockchain Gaming in Japan

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin Price Analysis as HBO Documentary Claims to Identify Bitcoin’s Creator ‘Satoshi Nakamoto’

Bitcoin Price Analysis as HBO Documentary Claims to Identify Bitcoin’s Creator ‘Satoshi Nakamoto’

10 months ago
Spot Bitcoin ETFs Triggered A Sell-off Causing Bitcoin To Drop Below $40,000

Spot Bitcoin ETFs Triggered A Sell-off Causing Bitcoin To Drop Below $40,000

2 years ago
Crypto Analyst Michaël van de Poppe Anticipates Altcoin Rebound After “Depression Phase”

Crypto Analyst Michaël van de Poppe Anticipates Altcoin Rebound After “Depression Phase”

2 years ago
Michael Saylor’s Technique to Promote $21 Billion In Most popular Inventory

Michael Saylor’s Technique to Promote $21 Billion In Most popular Inventory

5 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Solana Price Prediction: SOL Breaks Key Resistance – What This Means for Future Gains

Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle

Ethereum Price Prediction: ETFs Log 17-Day Inflow Streak – Is a Supply Shock Coming?

Bitcoin Price Prediction: Satoshi-Era Whale Exit Fuels Volatility — What’s Next?

Increased market volatility as the U.S.–Europe tariff deadline looms

What if Strategy Had Invested in XRP Instead of Bitcoin? 

Trending

South Korean Crypto Exchanges Paid Customers $87M in Interest in Past Year
All news

South Korean Crypto Exchanges Paid Customers $87M in Interest in Past Year

28.07.2025
0

South Korean crypto exchanges paid their customers $87 million worth of interest on their fiat deposits in...

Tyler Winklevoss Says JPMorgan Halted Gemini Onboarding Over Public Criticism

Tyler Winklevoss Says JPMorgan Halted Gemini Onboarding Over Public Criticism

28.07.2025
Ripple’s Chris Larsen Still Holds 2.58B XRP, Analyst Warns of Potential Sell Pressure

Ripple’s Chris Larsen Still Holds 2.58B XRP, Analyst Warns of Potential Sell Pressure

27.07.2025
Solana Price Prediction: SOL Breaks Key Resistance – What This Means for Future Gains

Solana Price Prediction: SOL Breaks Key Resistance – What This Means for Future Gains

27.07.2025
Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle

Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle

27.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz