The US Stock Exchange and Securities Commission (SEC) is closing its research in the main non -fungible token market, said the founder and CEO of the Devin Finzer platform on social networks.
The regulator issued a Wells notice against OpenSea in August 2024, indicating that he planned to perform an execution action against him. The regulator claimed that the platform may have been operating as an unregistered stock market.
The SEC movement occurs when the regulator is scheduled to vote on a negotiated agreement with Coinbase to eliminate its demand against exchange, which is considered a blessing for the cryptocurrency industry and NFT creators.
“This is a victory for all those who are creating and building in our space. Trying to classify NFT as values would have been a step back, one that misunderstands the law and slows innovation, ”Finzer published.
In reaction to Finzer’s post, Chris Akhavan, commercial director of NFT Marketplace Magic Eden, suggested that it was a victory for the wider cryptocurrency space. “While we are competitors in the trenches, we share a deep belief in the NFT and what they will enable,” Akhavan wrote.
The announcement led to an increase in the activity of the NFT Marketplace Looksrare native tab. The Token, looks, saw an increase in active addresses shortly after the announcement that represents an “increase of approximately five times compared to the usual figures,” according to Thetie’s data.
