{"id":570262,"date":"2024-08-29T06:04:27","date_gmt":"2024-08-29T06:04:27","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=570262"},"modified":"2024-08-29T06:04:27","modified_gmt":"2024-08-29T06:04:27","slug":"crypto-leaders-slam-sec-and-gary-gensler-for-targeting-nft-marketplace-opensea-with-wells-notice","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/crypto-leaders-slam-sec-and-gary-gensler-for-targeting-nft-marketplace-opensea-with-wells-notice","title":{"rendered":"Crypto Leaders Slam SEC And Gary Gensler For Targeting NFT Marketplace OpenSea With Wells Notice"},"content":{"rendered":"

Several leaders in the crypto space are criticizing the US Securities and Exchange Commission (SEC) and its Chair Gary Gensler for issuing non-fungible token (NFT) marketplace OpenSea with a <\/span>Wells Notice<\/span><\/a>.<\/span><\/p>\n

OpenSea’s CEO Devin Finzer shared in an Aug. 28 X <\/span>post<\/span><\/a> that the regulator warned the company of a potential enforcement action. It remains unclear whether the SEC will actually pursue legal action against OpenSea. <\/span><\/p>\n

This is one of the few times the agency has considered labeling an NFT as an unregistered security.<\/span><\/p>\n

\"NFT<\/p>\n

SEC Criticized For Its Ongoing Attack Against The Crypto Space<\/span><\/h2>\n

Shortly after Finzer posted about the Notice on X, several industry leaders criticized the SEC for its continued attack against companies operating in the crypto space. The chief legal and policy officer at the Crypto Council for Innovation (CCI), Ji Kim, <\/span>called<\/span><\/a> the SEC’s assertion that NFT platforms should be considered securities exchanges “legally flawed” and “utterly ridiculous.”<\/span><\/p>\n

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News of @Opensea<\/a> receiving a Wells Notice shows plain and simple that the current SEC’s crusade against the crypto industry continues unabated. This is in contrast to what Vice President Harris said two weeks ago announcing her economic agenda: pic.twitter.com\/cafsHJ6DhU<\/a><\/p>\n

— Brian Quintenz (@BrianQuintenz) August 28, 2024<\/a><\/p><\/blockquote>\n