‘Major implications’ for gaming tokens as CyberKongz hit with SEC Wells notice
CyberKongz said it was first contacted by the SEC two years ago and had been “suffering in silence” ever since.
Gaming tokens could be in for a setback after non-fungible token (NFT) platform CyberKongz was hit with a Wells notice by the United States securities regulator.
The Securities and Exchange Commission (SEC) brought up the “concerning rhetoric” that an ERC-20 token in tandem with a blockchain game cannot be issued without it first being registered as a security, CyberKongz said in a Dec. 16 X post.
Such discourse would have “major implications” for the Web3 gaming industry, CyberKongz explained, adding it would “defend against this stance for the wider space.”
Go to Source
Author: Brayden Lindrea
