SEC Issues Wells Notice Over NFT Listings But OpenSea is Ready to Defend NFT Community with $5 Million Legal Fund
The 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.