OpenSea Seeks SEC Clarification on Regulation of NFT Marketplaces

NFT marketplace operator OpenSea has urged the US Securities and Exchange Commission (SEC) for clarification regarding the application of securities laws to its platform. The company, in a letter to SEC Commissioner Hester Peirce, argues that platforms like OpenSea do not qualify as exchanges under federal securities regulations due to their lack of transaction execution or role as intermediaries in asset trading.