OpenSea Urges US SEC to Clarify Stance on NFT Exchanges

Global non-fungible token (NFT) trading platform OpenSea has officially urged the United States Securities and Exchange Commission (SEC) to clarify its stance on NFT exchanges.

According to The Block's report on the 9th (local time), OpenSea requested in a letter to the SEC to explicitly state that NFT exchanges do not fall under exchanges or brokers under federal securities laws.

Furthermore, OpenSea emphasized that the SEC should prevent industry confusion through a clear regulatory framework in the future, stating that it is time for regulators to step up to protect U.S. companies so they can lead the global virtual asset industry.

This demand coincides with the SEC beginning to conclude numerous 'securities law violation' investigations targeting the virtual asset industry. The SEC also concluded its investigation into OpenSea last month. This is interpreted as part of the 'crypto-friendly policy' stance that has been in full swing since the inauguration of U.S. President Donald Trump.