SEC closes investigation into OpenSea, paves the way for a new era of NFTs

• SEC closes investigation into OpenSea.
• SEA Airdrop.
• Change in the SEC.

The non-fungible token (NFT) space has just witnessed a major milestone. OpenSea, one of the world’s largest non-fungible token marketplaces, has announced that the U.S. Securities and Exchange Commission (SEC) has closed its investigation into the platform.

The news comes at a pivotal time in the industry, weeks after OpenSea confirmed the airdrop of its SEA token, and shortly after regulator to close its lawsuit against one of the main cryptocurrency exchanges on the market, Coinbase, signaling a possible change in the regulatory body's stance towards the crypto market.

Devin Finzer, co-founder and CEO of OpenSea, announced the closure of the investigation against his company, highlighting that this is “a victory for everyone who is creating and building in our space”. For Finzer, the SEC classifying NFTs as securities would be a “step backwards” given the evolution and growth of the American industry.

“The SEC is closing its investigation into OpenSea. This is a victory for everyone creating and building in our space. Trying to classify NFTs as securities would be a step backwards — one that misinterprets the law and slows down innovation. Every creator, big or small, should be able to build freely without unnecessary barriers,” stated .

The SEC investigation, which began with a “Wells notice” in August last year, has raised concerns about the regulation of NFTs and their potential classification as securities.

The SEC’s decision to close its investigation of OpenSea, along with the withdrawal of its lawsuit against Coinbase, suggests a possible shift in the regulator’s stance under the new administration. The appointment of Republican Commissioner Hester Peirce to lead a “ Task force “Cryptocurrency Markets” reinforces this perception. Peirce, known for her pro-innovation stance in the crypto sector, has been meeting with companies and discussing the creation of new guidelines for the market.

The closure of the OpenSea investigation and the potential change in the SEC’s stance represent an important step forward for the NFT market and the crypto industry as a whole. The community hopes that these changes signal a future of greater regulatory clarity and encouragement for innovation.