SEC investigation of OpenSea concludes
It has been reported that the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into NFT marketplace OpenSea.
According to Bloomberg on the 21st (local time), OpenSea announced that “the SEC has informed us that they have concluded their investigation and do not intend to recommend any enforcement action.”
OpenSea CEO Devin Finzer also stated through his X account that “the SEC’s attempt to classify NFTs as securities was an action that slowed innovation.”
Prior to this, the SEC had issued a Wells Notice (preliminary explanation request notice) to OpenSea, suggesting that NFTs could be considered securities.
Meanwhile, OpenSea, which introduced its native token ‘SEA’ on the 13th, has seen a significant increase in its NFT market share from around 20% to 70%. This surge is attributed to investors escalating their use of OpenSea in anticipation of the token airdrop.
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