The Securities and Exchange Commission (SEC) of the United States ends its investigation into the large non-fascinated token market Opensea, said the founder and CEO of the platform, Devin Finzer on social networks.
The regulator published a Wells opinion against Opensea in August 2024, indicating that he planned to continue an action in charge against him. The regulator allegedly alleged that the platform could work as an unregistered securities market.
The SEC decision comes when the regulator should vote on an agreement negotiated with Coinbase to abandon its trial for exchange, which is considered a boon for the cryptocurrency industry and the creators of NFT.
“It is a victory for all those who create and build in our space. Trying to classify the NFT as titles would have been a step back – one that badly embodies the law and slows innovation, “said Finzer.
Reacting to the Finzer post, Chris Akhavan, director of business of NFT Marketplace Magic Eden, suggested that it was a victory for the wider cryptocurrency space. “Although we are competitors in the trenches, we share a deep belief in the NFT and what they will allow,” wrote Akhavan.
The announcement led to an increase in activity for the native token of NFT Marketplace Looksrare. The token, seems, has seen an increase in active addresses shortly after the announcement which represents an “increase of approximately five times compared to the usual figures”, according to Theie data.
