OpenSea, a large NFT exchange, confirmed that it had received a Wells notice from the U.S. Securities and Exchange Commission, causing the BLUR and TNSR tokens to plunge in unison.
AlexThe SEC issued a Wells notice to OpenSea, claiming certain NFTs on its platform may qualify as securities, marking a significant regulatory shift towards the NFT sector. OpenSea’s CEO, Devin Finzer, responded by defending the creative freedom of artists and announcing a $5 million legal fund to support NFT creators.
WeatherlyUniswap Labs: We do not operate an exchange, broker, or clearing firm, and the Uniswap Protocol itself is not subject to securities laws.
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Cheng YuanThis is the latest in a line of initiatives that OpenSea has announced this year, amid fierce competition with its rival BLUR
AlexThe speculation triggered a slump of over 3% in BNB price and around 1% for BTC price.
OthersSources argue that firms have a difficult time being competitive and compliant without a clear regulatory path forward.
TheBlockCircle denied that it has received a Wells notice.
CryptoSlateSouth Korean prosecutors have refuted Do Kwon’s claim from over the weekend that he is not on the run and asked Interpol to issue a red notice against him.
Others