Yuga Labs has announced that the US Securities and Exchange Commission (SEC) has concluded its investigation into the firm.
“After 3+ years, the SEC has officially closed its investigation into Yuga Labs. This is a huge win for NFTs and all creators pushing our ecosystem forward,” the company shared on X, affirming that “NFTs are not securities.”
Recently, the SEC has ended investigations into several prominent crypto-related firms, including Robinhood, Gemini, UniSwap Labs, the Consensys-owned MetaMask, and OpenSea.
The agency has also reached settlements with Coinbase and Kraken and is moving towards resolving its case with TRON’s Justin Sun.
In a statement accompanying the dismissal of its lawsuit against Coinbase, the SEC emphasized, “The Cyber and Emerging Technologies Unit will continue to eliminate those who misuse innovation to harm investors, especially involving fraud with blockchain technology and crypto assets.”
