# NFT Regulatory Thaw? *Author: Bankless* *Published: Nov 8, 2024* *Source: https://www.bankless.com/nft-regulatory-thaw* --- [![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/11/unnamed--23-.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=zora-wow-memecoins&email=true) NFT Regulatory Thaw Published on Nov. 8, 2024 [ View in Browser ](https://www.bankless.com/metaversal) --- [**Sponsor: Kraken NFT**](https://www.bankless.com/sponsor/kraken-1682978636?ref=zora-wow-memecoins&email=true) — Kraken NFT is built for secure NFT trading. [Explore Kraken NFT](https://www.bankless.com/sponsor/kraken-1682978636?ref=zora-wow-memecoins&email=true) .  .  . NEWS ROUNDUP NFT Regulatory Thaw [![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/11/image---2024-11-07T185421.524.png)](https://www.bankless.com/metaversal)**With a new incoming presidential administration, Biden's SEC chair Gary Gensler is likely on the way out at the SEC. ** Arguably no public official has ever been as widely disdained in crypto as Gensler, who seemingly took the most aggressive and unforgiving positions possible against token projects during his tenure. More than a few of these projects, of course, were NFT-centric. For example, the Commission recently issued Wells Notices [to OpenSea](https://blockworks.co/news/sec-issues-wells-notice-opensea-nfts) and [Immutable](https://www.bankless.com/immutable-receives-wells-notice-over-2021-token-sale). Gensler's SEC *also *charged Impact Theory, Stoner Cats, and Flyfish Club with unregistered securities sales via NFTs. This hostile environment has been lambasted by dissenting SEC commissioners like Hester Peirce on multiple occasions ([1](https://www.sec.gov/newsroom/speeches-statements/peirce-uyeda-statement-nft-082823), [2](https://www.sec.gov/newsroom/speeches-statements/peirce-uyeda-statement-stonercats-091323), [3](https://www.sec.gov/newsroom/speeches-statements/peirce-uyeda-statement-flyfish-091624), etc.). It's also led to [artists suing the Commission](https://www.theblock.co/post/308185/artists-sue-sec-over-whether-nfts-are-securities-use-taylor-swift-tickets-as-example) for clarity on whether digital artworks sold via NFTs are securities. Now there's the chance to turn the page upon Gensler's departure, but what would this look like? It remains to be seen *who *will become the new SEC chair. Early reports suggest Dan Gallagher, a former SEC commissioner and the current chief legal officer of Robinhood, is in the mix. Whoever gets the nod, we can presume they'll be much friendlier to crypto and NFTs than Gensler was. That said, the new SEC chair won't have unilateral power to fix all the regulatory woes around digital assets in the U.S. That will likely require Congress passing multiple pieces of legislation. But they *will *be able to set agency enforcement priorities, like deprioritizing token cases. In the meantime, we lack specifics. We don't know who the SEC chair will be, we don't know what crypto legislation Congress might propose, and we don't know what pace to expect here. There's also the scenario in which Gensler refuses to resign and, thanks to the SEC's independence, his departure drags on for months or longer with a protracted legal battle. That's another possibility that complicates predictions here. In any case, what most people are expecting next is a fast regulatory thaw around crypto and NFTs. We'll have to wait and see if the new powers that be deliver on these expectations, or if the action is slow here amid non-crypto issues being more prioritized. Only time will tell for now. ### **📰 General news** - **Magic Eden** is [publishing its $ME tokenomics on Nov. 18th](https://x.com/MEFndn/status/1854577170519089603) - **OpenSea** unveiled [a waitlist for its V2 platform](https://x.com/opensea/status/1853462398587277737) - **PleasrDAO** is playing [its completed White Rabbit webseries at Devcon](https://x.com/pplpleasr1/status/1853479845340348715)[ ](https://twitter.com/punksOTC/status/1798093880711155918) ### **🎨 Cryptoart & music** - **0xfff.eth** announced [World Computer Sculpture Garden, a smart contract art show on Ethereum](https://x.com/0xShiroi/status/1853775794264236338) - **BasePaint **brought [its themes onchain](https://x.com/basepaint_xyz/status/1853951256756408341) - **BottoDAO **is [SuperRare's Rare Collection curator for November 2024](https://x.com/SuperRare/status/1853530433058689495) - **TITLES **released [its new explore page for artist AI models](https://x.com/titlesxyz/status/1853902988248838535) ### **🏆 Digital collectibles** - **Chonks**, the upcoming [ERC-6551 NFT](https://x.com/backseats_eth/status/1838035092096049271) collection, [launched its website](https://x.com/marka_eth/status/1853615506080821721) - **Magic Eden** implemented [its Mempool Protection feature for Ordinals traders](https://x.com/MEonBTC/status/1853468206381310322) ### **🎮 Decentralized gaming** - **Parallel Colony** released [its latest development update](https://x.com/ParallelColony/status/1854945031989477410) - **Pirate Nation** is [preparing to start Season 3 gameplay](https://x.com/PirateNationFDN/status/1854580468433535188) ### **🪙 Memes & NFTfi ** - **GONDI **published [an NFT Lending Market dashboard on Dune](https://x.com/gondixyz/status/1853514546260164626) - **Zoo.fun**, a new memecoin launcher platform, [is deploying on Abstract](https://x.com/zoodotfun/status/1853482356134539670) - **Zora** released [Wow, a platform for trading ERC-20z memecoins](https://www.bankless.com/zora-wow-memecoins) ### **📱 Onchain social** - **Rodeo**, a crypto social network, [is now usable with just an email](https://x.com/rodeodotclub/status/1854592147237851269) ### 🌐 **Virtual worlds** - **Decentraland **is [coming to the Epic Games Store](https://x.com/decentraland/status/1853581892345368815) --- --- *This article is brought to you by [MetaMask](https://www.bankless.com/sponsor/metamask-1776260643?ref=nft-regulatory-thaw)*