Organizers retreat from the encryption industry, as SEC closes the investigation of NFT Marketplace Openseaa

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The US Securities and Exchange Committee (SEC) withdrew its investigation into the uninterrupted code market (NFT) Opensea, where the federal government concludes its war on encryption.

According to mail From OpenSea Devin Finzer on the X social media platform, SEC ends its investigation in the company.

“SEC closes its achievement in Opensea. This is a victory for everyone who creates and built in our area. The attempt to classify NFTS as securities was a step back – those that offend the interpretation of the law and slow down innovation.

Each originator, large or small, should be able to build freely without unnecessary barriers. “

Last year, Venzer announced that Opensea had received a notice from SEC from SEC warning them of the violations of the potential securities law. Wales’s notification is a warning issued by the Supreme Education Council that he is planning to take legal action against the company and not an indication of violations.

At that time, Venzer said,

This is a transfer to an unknown area. By targeting NFTS, SEC has strangled innovation on a larger scale: hundreds of thousands of artists and creativity via the Internet are at risk, and many of them do not have resources to defend themselves. “

Venzer also offered the provision of $ 5 million to other NFT artists or startups facing legal persecution from the organizers.

Last week, SEC brought down a lawsuit against Coinbase, the biggest encryption exchange in the United States. Coinbase CEO Brian Armstrong described the regulation’s surrender as a “great victory for law.”

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