OpenSea's CEO Devin Finzer stated that the SEC is claiming NFTs on the platform are unregistered securities, reflecting the ongoing scrutiny cryptocurrency companies face.
Finzer mentioned that cryptocurrency companies have long been in the crosshairs of the SEC, highlighting ongoing tensions between crypto entities and regulatory bodies.
He is committed to fighting for the NFT industry, pledging $5 million to support legal fees for NFT creators affected by similar SEC notices.
The SEC spokesperson declined to comment on the potential investigation's existence, illustrating the agency's standard practice regarding ongoing inquiries.
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