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Opensea, the world leader on the NFT market, goes to the slot in front of the dry. 9. April 2025 The platform sent a formal letter to the Commission to Hester Peirce to prevent a clear point: NFT is not financial titles and Opensea is neither a broker nor a scholarship.
NFT regulation: Opensea increases the tone against dry
48 hours from the dry round table on the regulation of the crypto, Opensea hit the point on the table. In the 8 -page document, the legal directorate of the market recalls that NFT, mainly used as collecting objects or digital works of art, will not be obtained with an investment perspective, but for their artistic or cultural value. A position that joined the disagreement expressed by the Peirce Commissioner during the Stoner Cats affair.
However, SEC issued “Wells” against Opensea, indicating that the platform will act as a stock exchange or unregistered broker. Qualifications that the Company refutes, based on the legal definition of a broker under the 1934 Securities Act, which says:
The term “broker” means that anyone is carrying out a transaction on securities on behalf of others.
This legally means a few elements, specifically:
- They regularly carry out transactions on financial securities;
- Actively require investors;
- Receive a reward based on transactions;
- Hold or manipulate with the funds or assets of customers;
- Provide investment advice or recommendations.
Opensea emphasizes precisely that it does not hold the assets of its users, provides any investment counseling and does not carry out any transaction: everything is done through intelligent blockchain contracts. Therefore, neither her nor other similar platforms should be assimilated with brokers.
Maintenance
Opensea goes further and asks dry to quickly publish clear instructions, except for the NFT markets from the current title regulations. It also invites you to use Article 36 of the Exchange Act to formize the exception.
Bet? Maintaining innovation. According to Opensea, the use of securities on NFTS would be braking a young sector, open, transparent and based on direct interaction between users.
Despite the collapse of the NFT market of 63 % in Q1 2025, this land remains extremely sensitive to regulatory authorities. Opensea, however, hopes that dry will choose the possibility of common sense and balance rather than the possibility of surregulation.
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The world is evolving and adaptation is the best weapon that survives in this undulating universe. I am interested in everything about blockchain and its derivatives. To share my experience and promote an area that fascinates me, nothing better than writing informative and relaxed articles simultaneously.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.