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OpenSea , which calls itself the “ cosmos ’s tumid ” nonfungible token ( NFT ) market , received a Wells notice from the SEC , the company say in ablog postWednesday , indicate the governor may soon bring a lawsuit against the company .
In atweet , CEO Devin Finzer say the SEC is claiming NFTs on OpenSea ’s platform are unregistered security measures . He later observe that cryptocurrency companies have “ long been in the crosshairs of the SEC , ” which has bring like title against Binance and Coinbase . The crypto industry has long argued that token are not traditional securities , despite the fact that they are tradable assets that can put in value .
“ The SEC does not gloss on the existence or nonentity of a possible investigation , ” said an SEC representative in an email to TechCrunch .
OpenSea ’s CEO says he plans to “ fight for our industry ” and is pledging $ 5 million to pass over sound fee for NFT creators and developers who also received a Wells notice .
