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OpenSea Fires Back at SEC: We’re Not a Securities Exchange
OpenSea Fires Back at SEC: We’re Not a Securities Exchange
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OpenSea has argued that NFTs should not be regulated as securities because they are unique personal items rather than investment vehicles. The platform positions itself as a marketplace akin to eBay, stating that trades execute outside their platform. Despite the SEC closing its investigation, OpenSea’s letter may strategically prepare for future regulatory challenges. OpenSea has urged the SEC to exclude NFT marketplaces from regulation under federal securities laws, stating that the majority of NFTs are unique and acquired for personal use, not investment purposes.
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