SEC ends investigation into OpenSea

Odaily News OpenSea co-founder and CEO Devin Finzer announced that the SEC has ended its investigation into the NFT market. He said this was a huge victory for the entire field, and believed that classifying NFTs as securities was a misunderstanding of the law and would hinder innovation. Previously, the SEC issued a Wells notice to OpenSea in August 2024, accusing it of operating as a trading platform for unregistered securities. Although the two are competitors, Magic Eden Chief Business Officer Chris Akhavan believes this is a big victory for the NFT industry, and both companies are convinced of the potential of NFTs. (Cointelegraph)