SEC Threatens Legal Action Against NFT Marketplace OpenSea

by
msmash
from Slashdot on (#6QA6D)
U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to OpenSea, the leading non-fungible token (NFT) marketplace, threatening legal action over alleged securities violations. The SEC contends that NFTs traded on OpenSea's platform may constitute securities, a move that could have far-reaching implications for the digital art and collectibles industry. OpenSea CEO Devin Finzer denounced the SEC's action as an overreach that could stifle innovation and harm creators. The company pledged $5 million to cover legal fees for NFT creators and developers who receive Wells notices.

twitter_icon_large.pngfacebook_icon_large.png

Read more of this story at Slashdot.

External Content
Source RSS or Atom Feed
Feed Location https://rss.slashdot.org/Slashdot/slashdotMain
Feed Title Slashdot
Feed Link https://slashdot.org/
Feed Copyright Copyright Slashdot Media. All Rights Reserved.
Reply 0 comments