SEC Ends Investigation into OpenSea as Crypto Regulation Shifts

In Brief:

The U.S. SEC has concluded its investigation into OpenSea and the NFT market.

The agency is shifting its approach under the new Crypto Working Group, aiming to resolve lawsuits efficiently.

According to Bloomberg, OpenSea announced that the SEC has officially ended its probe into the NFT marketplace, marking a major regulatory shift. This comes amid broader changes in the SEC’s crypto oversight strategy, including pausing lawsuits against multiple crypto firms and dropping its case against Coinbase.

The newly formed Cryptocurrency Working Group is expected to introduce a more collaborative regulatory framework, potentially reducing legal pressure on the crypto industry. As a result, NFT markets and blockchain-based platforms may see a more favorable stance from U.S. regulators.

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