{"id":335423,"date":"2025-02-24T08:52:26","date_gmt":"2025-02-24T08:52:26","guid":{"rendered":"https:\/\/cryptonews.com\/?post_type=web-story&p=335423\/"},"modified":"2025-02-24T08:52:26","modified_gmt":"2025-02-24T08:52:26","slug":"sec-concludes-investigation-into-nft-marketplace-opensea-founder-says","status":"publish","type":"web-story","link":"https:\/\/cryptonews.com\/web-stories\/sec-concludes-investigation-into-nft-marketplace-opensea-founder-says\/","title":{"rendered":"SEC Concludes Investigation into NFT Marketplace OpenSea, Founder Says"},"content":{"rendered":"
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<\/p><\/amp-story-grid-layer> <\/span><\/p><\/div>\n<\/div>\n #cryptonews<\/span><\/span><\/p>\n<\/div>\n<\/div>\n <\/p><\/amp-story-grid-layer><\/amp-story-page> <\/p><\/amp-story-grid-layer> The U.S. Securities and Exchange Commission (SEC) has officially ended its investigation into non-fungible token (NFT) marketplace OpenSea, according to the company’s founder, Devin Finzer.<\/span><\/p>\n<\/div>\n<\/div>\n “The SEC is closing its investigation into OpenSea. This is a win for everyone who is creating and building in our space,” Finzer stated.<\/span><\/p>\n<\/div>\n<\/div>\n <\/p><\/amp-story-grid-layer> <\/p><\/amp-story-grid-layer> Finzer emphasized that classifying NFTs as securities could have severely hindered innovation within the digital art and collectibles space.<\/span><\/span><\/p>\n The SEC’s investigation into OpenSea began in August 2024 when the regulator issued a Wells notice, alleging the platform functioned as an unregistered securities marketplace.<\/span><\/p>\n<\/div>\n<\/div>\n The announcement came shortly after the SEC dropped its lawsuit against crypto exchange Coinbase, which had been accused of operating as an unregistered securities broker.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n <\/p><\/amp-story-grid-layer> <\/p><\/amp-story-grid-layer> “While we are competitors in the trenches, we share a deep belief in NFTs and what they will enable. Happy to see such a win for the space,” Akhavan wrote on X.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n Chris Akhavan, chief business officer at rival NFT marketplace Magic Eden, expressed solidarity despite the companies being competitors.<\/span><\/span><\/p>\n<\/div>\n<\/div>\nSEC Concludes Investigation into NFT Marketplace OpenSea, Founder Says<\/span><\/h2>\n
SEC Drops Lawsuit Against Coinbase<\/span><\/h3>\n<\/div>\n<\/div>\n