OpenSea, the industry’s premier Non-Fungible Token (NFT) trading platform has just received a Wells Notice from the United States Securities and Exchange Commission (SEC). This is the latest in the series of related crackdowns on entities within the digital currency ecosystem. Notably, this does not completely signify the commencement of a lawsuit from the Gary Gensler-led markets regulator.
The OpenSea and US SEC Shakedown
According to insights shared by Devine Finzer, the markets regulator said it believes the digital collectibles traded on the platform are securities. It is worth noting that a couple of other crypto-incluned firms including Robinhood, Kraken, ConsenSys, Uniswap and Coinbase have equally been caught in such crosshatch with the regulator in the past.
In Uniswap’s case,
Unlike the Wells Notice filed against Uniswap, Finzer noted that the claims came as a shock as it did not expect the US SEC will make such move against artists and creators. The exchange has committed to standing its ground against the regulator as it believes its products are not securities.
In Uniswap’s case,
The post Breaking: OpenSea Receives Wells Notice From US SEC appeared first on CoinGape.
