OpenSea Defends Against SEC’s NFT Regulation Claims

In a direct challenge to the SEC, leading NFT marketplace OpenSea has submitted a formal letter arguing against its classification as a broker or exchange. The platform’s response comes just days before the SEC convenes for a roundtable discussion on crypto regulations. In an 8-page document, OpenSea’s legal team asserts that NFTs are fundamentally different from investment instruments and are primarily used for artistic or cultural purposes.