OpenSea announced on Friday evening that the U.S. Securities and Exchange Commission informed the nonfungible-token marketplace exchange, that it has ceased its investigation and does not intend to recommend an enforcement action over the alleged unregistered sale of securities.
“The SEC is closing its investigation into OpenSea,” Devin Finzer said on X. “This is a win for everyone who is creating and building in our space. Trying to classify NFTs as securities would have been a step backward—one that misinterprets the law and slows innovation. Every creator, big or small, should be able to build freely without unnecessary barriers.”