{"id":14508,"date":"2025-02-22T15:46:43","date_gmt":"2025-02-22T15:46:43","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=14508"},"modified":"2025-02-22T15:46:43","modified_gmt":"2025-02-22T15:46:43","slug":"sec-drops-opensea-investigation-easing-pressure-on-nft-market","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=14508","title":{"rendered":"SEC Drops OpenSea Investigation Easing Pressure on NFT Market"},"content":{"rendered":"
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The U.S. Securities and Exchange Commission (SEC) is closing its investigation into major non-fungible token marketplace OpenSea, the platform\u2019s founder and CEO Devin Finzer said on social media.<\/p>\n<\/p>\n

The regulator issued a Wells notice<\/a> against OpenSea in August 2024, indicating it was planning on pursuing an enforcement action against it. The regulator alleged the platform may have been operating as an unregistered securities marketplace.\n<\/p>\n

The SEC\u2019s move comes as the regulator is slated to vote on a deal negotiated with Coinbase to drop its lawsuit against the exchange<\/a>, which is seen as a boon for the cryptocurrency industry and NFT creators.<\/p>\n<\/p>\n

\u201cThis is a win for everyone who is creating and building in our space. Trying to classify NFTs as securities would have been a step backward\u2014one that misinterprets the law and slows innovation,\u201d Finzer posted<\/a>.\n<\/p>\n

Reacting to Finzer\u2019s post, Chris Akhavan, chief business officer of NFT marketplace Magic Eden, suggested it was a victory for the wider cryptocurrency space<\/a>. \u201cWhile we are competitors in the trenches, we share a deep belief in NFTs and what they will enable,\u201d Akhavan wrote.\n<\/p>\n

The announcement led to an uptick in activity for the native token of NFT marketplace LooksRare. The token, LOOKS, saw a surge in active addresses shortly after the announcement that represents an \u201capproximately fivefold increase compared to the usual figures,\u201d according to data from TheTie.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The U.S. Securities and Exchange Commission (SEC) is closing its investigation into major non-fungible token marketplace OpenSea, the platform\u2019s founder and CEO Devin Finzer said on social media. The regulator issued a Wells notice against OpenSea in August 2024, indicating it was planning on pursuing an enforcement action against it. The regulator alleged the platform […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-14508","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14508"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14508\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}