The US Securities and Exchange Commission (SEC) has withdrawn its probe into the non-favorable token (NFT) Marktplaats, since the federal government concludes its war against Crypto.
According to a post from OpenSea CEO Devin Finzer on the social media platform X, the SEC ends its research into the company.
“The SEC closes its research into OpenSea. This is a victory for everyone who creates and builds in our space. Trying to classify NFTs as effects would have been a step backwards – one that incorrectly interprets the law and slows down innovation.
Every maker, large or small, could be able to build freely without unnecessary barriers. “
Last year, Finzer announced that OpenSea had received a wells notification from the SEC that warned them of possible violations of the securities legislation. A wells knowledge is a warning of the SEC that it is planning to take legal steps against a company and is not an indication of misconduct.
At that time, Finzer said,
“This is a switch to unknown territory. By focusing on NFTs, the sec innovation would suffocate on an even broader scale: hundreds of thousands of online artists and creatives are at risk and many do not have the means to defend themselves. “
Finzer also offered to set up $ 5 million for other NFT artists or startups that had to deal with legal prosecution of supervisors.
Last week the SEC also dropped its lawsuit against Coinbase, the biggest crypto exchange in the US. Coinbase CEO Brian Armstrong described the surrender of the regulator as a “big victory for the rule of law”.
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Featured image: Shutterstock/david.costa.art