OpenSea’s CEO, Devin Finzer, has revealed that the NFT marketplace has received a Wells Notice from the SEC, indicating that the agency may take legal action against them.
According to Finzer, the SEC believes that the NFTs on their platform are securities. Despite the shocking move by the SEC, Finzer stated that OpenSea is prepared to fight back and defend itself.
He emphasized that this would set a precedent in the area of NFT regulation and harm countless online artists and creatives who rely on NFTs.
Finzer also highlighted the potential impact on innovation if NFTs are targeted by the SEC.
