The American Securities and Exchange Commission (SEC) is officially supporting its investigation in NFT Marketplace Opensea – yet there is another example of the crypto industry benefited from loose rules under Trump administration.
Opensea co-founder and CEO Dewin Finner shared the news late on Friday night. The announcement of the declaration of the coinbase came on the heels that the SEC was leaving his case against him.
“SEC is shutting down its investigation [Opensea]This is a win for all those who are making and construction in our space, “Finjers declared on X.” Trying to classify NFT because securities are one step backwards – a one that misinterpreted the law and slows down innovation. Each manufacturer, large or small, should be able to construct independently without unnecessary obstacles. ,
Last August, Finner revealed that Openia received a warning of possible allegations related to unregistered securities. Opensea vowed to fight back, and now, it seems that the market has come to the top.
Trump’s compress: from crypto to crypto love letters
If it all looks like a pattern, it is because it is. President Donald Trump received millions of contribution to the campaign from Crypto industry in the 2024 elections, according to which Bloomberg,
Former SEC president Gary Gansler, a former goldman Sachs banker replaced the regulator Bulldog, ever saw the crypto industry. Under his watch, SEC came after all from the Titans of industries such as Openia, Coinbase and Ripple, which is the firm behind the XRP.
Ripple and SEC are at a legal place since 2020. The regulator accused Ripple Labs of selling unregistered securities, but Judge Analyssa Torres ruled that XRP was not a security when the XRP was sold for exchange, but determined that its institutional sales violated the security laws Did. He ordered Ripple to pay $ 125 million, which is much lower than SEC’s initial $ 2 billion demand.
Both sides filed an appeal, but SEC can now withdraw its case that Trump nominated Pro-Crypto SEC Commissioner Paul Atkins as the agency chair.
Essentially, Crypto Crackdown under Genslar is now slowing down and taking exemplary, more license-fare approaches exemplary by agency coinbase and openia announcements.
Oopensia’s sea aircraft
Meanwhile, Opensea is not only celebrating its SEC victory – it is also throwing a party as a maritime token aircraft. Opensea Foundation announced on Thursday that it would reward his NFT Marketplace’s active, loyal and longer users with free tokens.
While the details are still fuzzy when the maritime tokens will actually launch, the opena traders are already rubbing their hands together on the idea of free digital loot. The company has also rolled out OS2, a new multi-chain trading platform.
