Journalist
Posted:
- SEC ends the OpenSea investigation, signaling a positive shift for NFT industry regulation.
- The Coinbase lawsuit dismissal hints at a more crypto-friendly U.S. regulatory environment.
The U.S. Securities and Exchange Commission (SEC) has officially concluded its investigation into OpenSea, the leading non-fungible token (NFT) marketplace.
This development, confirmed by OpenSea’s founder, marks a significant milestone for the platform as it navigates the evolving regulatory landscape surrounding digital assets and NFTs.
OpenSea founder celebrates its victory
Taking to X, OpenSea founder Devin Finzer noted,
“The SEC is closing its investigation into OpenSea. This is a win for everyone who is creating and building in our space. Trying to classify NFTs as securities would have been a step backward—one that misinterprets the law and slows innovation. Every creator, big or small, should be able to build freely without unnecessary barriers.”
OpenSea’s regulatory battle took a decisive turn after the U.S. Securities and Exchange Commission (SEC) officially closed its investigation into the NFT marketplace.
How Trump’s era has been good news for the crypto industry?
The probe, which began in August 2024, centered around allegations that OpenSea had facilitated the sale of unregistered securities, following the issuance of a Wells notice.
For context, Finzer had previously warned that labeling NFTs as securities could stifle innovation and hinder growth within the industry.
However, the political landscape shifted when Donald Trump secured a second presidential term.
Under his administration, the SEC has taken a noticeably more crypto-friendly stance, leading to the closure of the investigation—a move welcomed by industry leaders.
OpenSea’s competitors, too, celebrate this victory
Adding to the discussion, Magic Eden’s chief business officer, Chris Akhavan, acknowledged that while his platform competes with OpenSea, the SEC’s decision marks a victory for the entire NFT industry.
He emphasized that regulatory clarity benefits all players in the space, fostering innovation and growth across the ecosystem.
“While we are competitors in the trenches, we share a deep belief in NFTs and what they will enable. Happy to see such a win for the space.”
SEC ends investigation with Coinbase
Interestingly, the SEC’s decision to conclude its investigation into OpenSea came just hours after it agreed to dismiss its lawsuit against crypto exchange Coinbase.
The lawsuit alleged that Coinbase is operating as an unregistered securities broker.
After the news came in, Coinbase CEO Brian Armstrong expressed optimism, predicting that the Commission would officially approve the dismissal by next week.
“Once approved by the Commission (which we’re told to expect next week), this would be a full dismissal, with $0 in fines paid and zero changes to our business.”
Together, these developments suggest a more favorable regulatory environment for the crypto industry under the current SEC leadership.
