The SEC has targeted the largest NFT marketplace for unregistered securities trading, and the crypto community is outraged.
The United States Securities and Exchange Commission issued a Wells notice to OpenSea on Aug. 28, stating that the non-fungible token (NFT) exchange had served as a marketplace for unregistered securities.
OpenSea CEO Devin Finzer said he was “shocked” by the SEC action.
The crypto community protested the notice, which serves as a warning that the SEC may take enforcement action against the exchange.
