NFTs

OpenSea Seeks SEC Guidance, Exemption From Broker Regulation

OpenSea Seeks SEC Guidance, Exemption From Broker Regulation

The world’s largest non-fungible token (NFT) marketplace OpenSea is doing its part. Most importantly, they have challenged the SEC to provide clear guidance to help regulate marketplaces that endanger America’s innovators with uncertainty. In addition, the company is asking the SEC to exempt NFT marketplaces from its proposed new broker...

OpenSea Urges SEC to Reconsider Broker Designation for NFT Marketplaces

OpenSea Urges SEC to Reconsider Broker Designation for NFT Marketplaces

OpenSea is fighting the notion that it would be subject to regulation as a broker under the Exchange Act. The company maintains that its non-fungible-token (NFT) marketplace does not need to be regulated like a traditional securities exchange. The company has gone to great lengths to make sure users know...

OpenSea Seeks SEC Exemption for NFT Marketplaces Amid Regulatory Uncertainty

OpenSea Seeks SEC Exemption for NFT Marketplaces Amid Regulatory Uncertainty

Recently, OpenSea, the largest NFT marketplace, made an unprecedented move. Specifically, they petitioned the U.S. Securities and Exchange Commission (SEC) to exempt NFT platforms from federal securities regulations. OpenSea’s legal counsel, Adele Faure and Laura Brookover, called out SEC Commissioner Hester Peirce as well as the SEC Crypto Task Force....

OpenSea Seeks Clarity From SEC on NFT Regulation

OpenSea Seeks Clarity From SEC on NFT Regulation

In the meantime, OpenSea, the largest NFT marketplace, has made a daring move. In so doing, they formally asked the Securities and Exchange Commission (SEC) to provide explicit guidance on the regulatory status of NFT platforms. Lately, OpenSea itself weighed in, in a letter to the SEC, urging them to...