While the SEC focuses on investor protection, Pudgy Penguins CEO Luca Schnetzler believes that investors should also hold some form of accountability for their purchases.
Pudgy Penguins CEO Luca Schnetzler, widely known in the NFT space as Luca Netz, stated that he remains unfazed by the recent actions taken by the U.S. Securities and Exchange Commission (SEC) against the NFT industry.
On Aug. 28, NFT marketplace OpenSea revealed that it had received a Wells notice from the SEC. The company claimed that the SEC is alleging that NFTs on the trading platform may qualify as securities. Then, on Sept. 17, the SEC imposed a $750,000 fine on the restaurant Flyfish Club for offering NFTs.
As the SEC takes action against the industry, some argue that it is necessary to respond to these measures. However, Schnetzler dismisses the SEC’s actions as “nonsense.”
