* Our Parent Company Crypto Token is LIVE!!! *Flag Token

SEC Targets NFTs, Sending Subpoenas to Various Creators and Firms

Date:

Share post:

The SEC is now aiming at the creators of NFTs in an effort to determine whether or not they violate its rules and regulations.

The financial regulator is growing concerned that NFTs are being used for unregulated securities token offerings, according to Bloomberg. The ongoing review is also examining fractional non-fungible tokens – when they are divided into smaller parts so that the artwork or unique item can be owned by several people.

Over the past few months, the SEC has sent subpoenas to NFT creators and various crypto firms and exchanges requesting more information, according to the report.

NFTs in The Spotlight

Late last year, SEC Commissioner Hester Peirce, also known as “Crypto Mom,” warned that the regulator would be turning its attention to non-fungibles next. “Given the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,” she said at the time before adding, “people need to be thinking about potential places where NFTs might run into the securities regulatory regime.”

As it does with crypto assets, the…

Read more…

Related articles

Uniswap moves onwards and upwards as increasing dominance spills into this area

Uniswap’s NFT aggregator registered a sharp uptick in sales volume and active users. Native token UNI jumped by 3.61%...

Game Devs Surprisingly Skeptic About Blockchain and NFTs, Report Says

Vladislav Sopov State of Game Industry 2023 report by Game Developers Conference that kicks off in San Francisco in...

This Week in Coins: Ethereum Drops as Aptos, Axie, Avalanche See Big Gains

Bitcoin and Ethereum dipped on Friday, dashing hopes for the crypto market's fourth consecutive week of marketwide gains....

What’s Next for NFTs?

Stories from this week suggest that brand involvement and entertainment partnerships are likely paths forward. Read more...