CyberKongz said it was first contacted by the SEC two years ago and had been “suffering in silence” ever since.
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The defendants will likely have to pay something along with “neither admit nor deny” type language, says Pantera’s chief legal officer Katrina Paglia.
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Previous crypto rulings against the SEC have put Crypto.com on a “strong legal footing” in its lawsuit against the regulator, its chief legal officer Nick Lundgren said.
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SEC commissioners Hester Peirce and Mark Uyeda didn’t believe any US securities laws were triggered and urged the commission to give NFT firms more room to experiment.
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OpenSea CEO Devin Finzer said that the NFT marketplace received a Wells notice from the SEC, suggesting potential enforcement action from the agency.
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Atlas Development chief legal officer Oscar Franklin Tan stated that the Wells notice “does everything except provide us with clear rules to follow.”
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The U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to Opensea, signaling potential enforcement action against the NFT marketplace. Opensea’s CEO criticized the SEC’s move, claiming it could negatively impact innovation and creators’ livelihoods. The platform is prepared to contest the action and has committed $5 million to support NFT creators facing […]
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Uniswap Labs has responded to the U.S. Securities and Exchange Commission’s Wells Notice, asserting that its protocol does not fall under the agency’s regulatory jurisdiction. The response emphasizes the autonomous nature of Uniswap’s decentralized finance (defi) technology and argues against the classification of its activities as operating an exchange or broker. Uniswap Responds to SEC […]
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Creators of NotWifGary aim to “stand [their] ground against Gary Gensler and the SEC” in support of Ethereum and open-source developers.
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Ethereum co-founder Joseph Lubin says the SEC is engaging in strategic enforcement action instead of engaging in meaningful discourse with the cryptocurrency industry.
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