U.S. SEC Digging Deeper Into NFTs Which Could Qualify as Securities
Non-fungible tokens (NFTs) are being investigated by the U.S. Securities and Exchange Commission (SEC) to see if some might qualify as securities and should therefore be regulated as such.
As reported by Bloomberg, SEC attorneys have issued subpoenas to NFT creators and multiple crypto exchanges requesting more information.
Sources close to the matter say that in the past months it has largely been fractional NFTs that got under the looking glass. These are tokens, broken down into many smaller units and sold separately.
Over the last few months, SEC attorneys have sent subpoenas to NFT creators and various crypto exchanges requesting more information, according to the report.
In December, SEC Commissioner Hester Peirce, known by many as ‘Crypto Mom’ already hinted at the SEC taking a closer look at NFTs.
Chairman of the SEC, Gary Gensler, opines that most of the crypto tokens are to be considered securities and therefore demand SEC regulation.
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Source: igaming
