The SEC is shifting it’s sights towards NFTs, according to emerging reports hitting the wire on Tuesday. The U.S. regulator is apparently looking into whether to deem NFTs as securities and is exploring whether or not the sale of the NFTs violates federal law, including a specific look into Yuga Labs’ ApeCoin distribution.
Let’s review what we know in the early hours, and what sort of impact this latest news could have on the NFT market at large.
The SEC Goes NFT
The news was first let loose via Bloomberg’s crypto team and the signature Bloomberg Terminal. Th
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