Summary
- The SEC's investigation into Yuga Labs has concluded, which was reported as a favorable outcome for NFTs and creators.
- The SEC has sent a positive signal to the industry by withdrawing investigations into numerous cryptocurrency companies.
- The conclusion of investigations and withdrawal of lawsuits could be interpreted as signs of regulatory easing in the industry.
It has been reported that the Securities and Exchange Commission (SEC) has concluded its investigation into Yuga Labs, the developer of the prominent non-fungible token (NFT) BAYC.
According to cryptocurrency news outlet The Block on the 3rd (local time), Yuga Labs announced via X (Twitter) that "the SEC has concluded its investigation into Yuga Labs, which had been ongoing for three years," adding that "this is a win for NFTs and all creators in the ecosystem. NFTs are not securities."
The SEC has recently been withdrawing investigations against numerous cryptocurrency companies. Previously, the SEC withdrew investigations into Robinhood Crypto, Gemini, Uniswap Labs, Consensys, and OpenSea, and also ended lawsuits against cryptocurrency exchanges such as Coinbase and Kraken.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
