SEC deletes the examination of OpenSea, no measures against NFTS

The SEC ends its investigation in Openea without legal steps, rejects NFTs as securities and marks a victory for the NFT and Web3 community.

The second has closed its investigation OpenSea to take legal steps or classification NFTS as securities. This is a great victory for the NFF sector and a relief for the marketplace because it is preparing to start his token in 2025.

Devin Finzer, CEO of Openea, welcomed the decision and called her a victory for the Web3 and NFT community. He criticized the attempt by the SEC to regulate NFTs according to existing laws and argued that innovation had slowed down. “The attempt to classify NFTs as securities would have been a step backwards. Every creator should be able to freely build unnecessary obstacles, ”said Finzer.

Last August, OpenSea received a termination announcement and warned that the SEC is considering legal steps. The Commission had questioned whether NFTs that were traded on the platform could be classified as securities. In response to this, Openea placed 5 million US dollars to support NFT artists and dusters who are exposed to a similar examination. However, if the case now closed is closed, the fund is no longer required for legal defense.

This is the second case that the sec put against crypto companies on February 21. At the beginning of the day, the supervisory authority finally announced plans to dismiss their lawsuit against Coinbase.

These recent decisions indicate that the SEC facilitates its enforcement efforts in the crypto industry. However, the top -class lawsuit against Ripple remains.