a Wells Notice from the Securities Exchange Commission warning the agency was about to sue the leading NFT platform for violation of securities laws. The threatened action is the latest in a long line of similar moves from the SEC, and the reaction from the crypto industry has been fierce and near-uniform. Here is a small, representative sample.
Third, we have Variant Fund's Jake Chervinsky, arguing that NFTs shouldn't be covered by laws invented many decades earlier :Bitcoiner Jameson Lopp arguing that, if the SEC's intent is to protect investors, it's years late:And finally, Anthony Scaramucci, who says Gensler is wrecking recent Democratic efforts to make allies in the crypto community:
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.