CyberKongz said it was first contacted by the SEC two years ago and had been “suffering in silence” ever since.
Gaming tokens could be in for a setback after non-fungible token (NFT) platform CyberKongz was hit with a Wells notice by the United States securities regulator.
The Securities and Exchange Commission (SEC) brought up the “concerning rhetoric” that an ERC-20 token in tandem with a blockchain game cannot be issued without it first being registered as a security, CyberKongz said in a Dec. 16 X post.
Such discourse would have “major implications” for the Web3 gaming industry, CyberKongz explained, adding it would “defend against this stance for the wider space.”
