OpenSea Demands SEC Clarification: How to Regulate NFTs?

Leading NFT marketplace OpenSea is pushing for clarity from the Securities and Exchange Commission (SEC) regarding how to regulate non-fungible tokens (NFTs). This plea comes as a crucial need for a regulatory framework that can foster innovation in the space while protecting users. The issue lies in defining where NFT marketplaces fall under existing securities laws, with OpenSea arguing that current regulations don’t apply due to their unique decentralized nature.