HomeAbout

TL;DR CNBC


OpenSea receives Wells notice from SEC, regulator says NFTs are securities - TL;DR CNBC

OpenSea receives Wells notice from SEC, regulator says NFTs are securities

Publishing timestamp: 2024-08-28 11:42:01


Summary

SEC has issued a Wells notice against OpenSea, alleging that the nonfungible tokens (NFTs) sold on its platform are securities. OpenSea CEO is ready to fight back, claiming that classifying NFTs as securities would stifle innovation and harm creators. The SEC has been cracking down on various crypto firms and exchanges, leading to legal battles and uncertainty in the industry. Some crypto businesses are considering leaving the U.S. due to regulatory challenges. Former President Donald Trump has pledged to "fire" SEC Chair Gensler if elected, but the president does not have the power to do so.


Sentiment: MIXED

Tickers: COINHOOD

Keywords: coinbase global incenergytechnologybusiness newsproducts and servicesfintechgary genslercryptocurrencybitcoin

Source: https://www.cnbc.com/2024/08/28/sec-issues-wells-notice-to-nft-marketplace-opensea.html


Developed by Leo Phan