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Yuga Labs announced that the SEC has closed its investigation into the company, declaring NFTs are not securities. This decision is part of a broader withdrawal of investigations into several crypto companies by the SEC in recent days. The closure of this investigation is seen as a positive development for the NFT ecosystem as regulators seek to balance innovation with investor protection.
What’s the Scoop?
- Regulatory Closure: The SEC has officially closed its investigation into Yuga Labs, marking an end to scrutiny over whether NFTs are considered securities.
- Industry Impact: This decision is part of a larger trend, with the SEC also withdrawing investigations into other crypto firms like
Coinbase and Kraken. - Future Collaborations: Yuga Labs expressed interest in working with regulators and the industry to define the burgeoning ecosystem of Web3.
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