Yuga Labs says SEC has dropped its investigation into the NFT firm
Yuga Labs said the SEC has dropped its probe into the NFT conglomerate, which the agency first launched in late 2022.
Non-fungible token (NFT) conglomerate Yuga Labs says the US Securities and Exchange Commission has closed its investigation into the company.
“After 3+ years, the SEC has officially closed its investigation into Yuga Labs,” the company said in a March 3 X post. “This is a huge win for NFTs and all creators pushing our ecosystem forward. NFTs are not securities.”
Bloomberg first reported in October 2022 that the SEC opened a probe into Yuga Labs to determine if certain NFTs were more like traditional stocks and, therefore, securities under US laws.
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Author: Jesse Coghlan
