OpenSea to SEC: “NFTs Aren’t Stocks, So Stop Acting Like It!”

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So, OpenSea decided to write a letter to the SEC. You know, just your typical “Hey, can you not?” kind of correspondence. Adele Faure and Laura Brookover, the legal brains behind the operation, basically said, “Listen, we’re not an exchange. We’re not facilitating transactions, we’re not playing middleman, and we’re definitely not consolidating sellers. So, can you just… not?” 🖋️

They’re arguing that NFT marketplaces don’t fit the legal definition of an exchange. I mean, come on, it’s not like we’re trading stocks here. It’s digital art, people! 🎨

And then they had the audacity to point out the SEC’s past enforcement actions, which, let’s be honest, have been about as clear as mud. They’re like, “Hey, can you give us some clear guidance? Because we’d really like to keep leading in the NFT space without all this regulatory ambiguity.” 🙄

So, there you have it. OpenSea is out here trying to keep the NFT world spinning while the SEC is probably scratching their heads, wondering what an NFT even is. 🤷‍♂️

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2025-04-10 19:07