Yuga Labs told the NFT unique symbol (NFT) that the American Securities and Stock Exchange Committee closed its investigation in the company.
“After 3 years, the Supreme Education Council has officially closed its investigation at Yuga Labs”, the company He said In the publication of March 3. “This is a big victory for NFTS and all creators who push our ecosystem forward. NFTS is not securities.”
Bloomberg mentioned for the first time in October 2022 that SEC opened a probe in Yuga Labs to determine whether some NFTS resemble traditional stocks, and therefore, securities under American laws.
source: Yuga Labs
The investigation of the organizer began during the era of former President Gary Ginsner and was part of a wider NFTS – which included investigations on creators and markets – to see if some, such as a broken NFTS, are securities.
Yuga Labs was behind some of the most popular and high -price NFT groups when the market was at its peak, including the yacht club bored and the mutant yacht club. She also bought the rights of Cryptopunks, an early NFT group that historically brought huge sums.
The investigation reported at SEC at Yuga Labs, where the organizer has alleviated its approach to the encryption industry under the Trump administration.
Related to: Us Crypto Reservo No Peettuity for Secretry – Industry Exec
Late last month, NFT Marketplace said that SEC closed the investigation of the platform, which came just hours after the regulator also dropped a lawsuit against Crypto Excination Coinbase.
The Supreme Education Council rejected other enforcement procedures related to the encryption it filed under the leadership of former President Jinsler, after it fell a year against Crypto Exchang Kraken on March 3.
Cointelegraph called SEC and Yuga Labs to comment.
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