OpenSea has requested the U.S. Securities and Exchange Commission (SEC) to clarify that NFT marketplaces are not subject to the same regulations as traditional securities exchanges or brokers. The company argues this distinction is crucial for avoiding overregulation of its platform, which facilitates non-fungible asset trading. In a letter addressed to SEC Commissioner Hester Peirce, OpenSea outlines the differences between its platforms and standard exchange models, emphasizing NFT marketplaces do not facilitate peer-to-peer trading of identical assets or act as intermediaries in traditional trading processes. The company further emphasizes that NFTs are unique and distinct from securities based on non-fungible asset characteristics.