The U.S. Securities and Exchange Commission (SEC) has issued a Wales notice to OpenSea, one of the largest marketplaces for non-traditional tokens (NFTs), accusing the platform of misclassifying NFTs as securities. The move has sparked a flurry of reactions from prominent figures in the digital currency industry, U.S. senators, and market experts. Market expert Adam Cochran suggested that OpenC could challenge the SEC’s regulatory stance through a court order. Bankless’ Ryan Sean Adams called the move an attack on constitutional rights and a barrier to digital currency innovation in the United States. Congressman Wiley Nickel also called the SEC’s actions a clear abuse of power and called for the Commission and Congress to work together to develop clear and fair regulations.
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