OpenSea faces SEC scrutiny as the debate over NFTs as unregistered securities heats up, causing a stir in the crypto world.
On Aug. 28, the United States Securities and Exchange Commission issued a Wells notice to OpenSea, the non-fungible token (NFT) marketplace.
OpenSea CEO Devin Finzer was “shocked” when the SEC accused the exchange of being a marketplace for unregistered securities.
The announcement resulted in an uprising in the crypto community, led by Finzer’s statement that OpenSea was prepared to “stand up and fight.”
