{"id":570054,"date":"2024-08-28T15:34:41","date_gmt":"2024-08-28T15:34:41","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=570054"},"modified":"2024-08-28T15:34:41","modified_gmt":"2024-08-28T15:34:41","slug":"sec-issues-a-wells-notice-to-opensea-claiming-nfts-on-its-platform-are-securities","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sec-issues-a-wells-notice-to-opensea-claiming-nfts-on-its-platform-are-securities","title":{"rendered":"SEC Issues A Wells Notice To OpenSea, Claiming NFTs On Its Platform Are Securities"},"content":{"rendered":"
OpenSea, one of the world’s first and largest web3 marketplaces for non-fungible tokens and crypto collectibles, has received a legal notice from the United States Securities and Exchange Commission, claiming that non-fungible token collections on its market platform are illegal securities. The move is a big blow to creators, collectors, and other market players.<\/p>\n
In an August 28 blog post, Davin Finzer, the co-founder and the chief executive officer of the OpenSea NFTmarketplacee, confirmed that they had been served with a legal notice by the United States Securities and Exchange Commission (SEC) that claims NFTs in its platform are securities. The fate of creators and artists now lies in the corridor of justice.<\/p>\n
\nOpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities.<\/p>\n
We're shocked the SEC would make such a sweeping move against creators and artists. But we're ready to stand up and fight.<\/p>\n
Cryptocurrencies have long…<\/p>\n
— Devin Finzer (dfinzer.eth) (@dfinzer) August 28, 2024<\/a><\/p><\/blockquote>\n