Saturday, September 6, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Lifestyle

US SEC threatens to sue NFT marketplace OpenSea, CEO says

by Mark Darwin
in Lifestyle
US SEC threatens to sue NFT marketplace OpenSea, CEO says
Share on FacebookShare on Twitter


THE US Securities and Exchange Commission has threatened to sue non-fungible tokens marketplace OpenSea, the company’s CEO said in a post on social media platform X on Wednesday.

“OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities,” OpenSea co-founder and CEO Devin Finzer said.

A Wells notice is a formal declaration that SEC staff intend to recommend an enforcement action.

The SEC does not comment on the existence or nonexistence of a possible investigation, a spokesperson for the securities regulator said in a statement to Reuters.

The SEC and the crypto industry have locked horns in recent years over their divergent views on whether crypto assets classify as securities and should be regulated similarly.

“We’re shocked the SEC would make such a sweeping move against creators and artists. But we’re ready to stand up and fight,” Finzer added.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Crypto companies have accused the regulator of overreach and violating its jurisdiction, while the SEC has alleged the industry is flouting securities laws that are designed to protect investors and other market participants.

“Although NFTs are not normally considered securities I suppose the SEC might be looking at how they were treated and traded and if they had the form or feel of an investment contract,” said Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors.

“Attitudes towards NFTs were already severely hit in the last crypto crash and are having a hard time rebounding,” he added.

Prominent crypto firms, including exchange Coinbase and retail trading app Robinhood, have repeatedly called for clearer regulation and new laws.

An NFT is a digital asset that exists on a blockchain, which serves as a public ledger, allowing anyone to verify the asset’s authenticity and ownership. NFTs, which became popular in 2017, have a unique digital signature and cannot be reproduced. AFP

Tags: CEOMarketplaceNFTOpenSeaSECSueThreatens
Mark Darwin

Mark Darwin

Next Post
London Metal Exchange aims to boost monthly prices in shift from 147-year history

London Metal Exchange aims to boost monthly prices in shift from 147-year history

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In