One of the most influential players in the non-fungible token (NFT) market, Yuga Labs has confirmed that the U.S. Securities and Exchange Commission (SEC) has finished its probe into the company’s activities. After more than three years of oversight, the SEC has officially said that NFTs aren’t securities. This is a big win for the whole NFT ecosystem and offers much clearer regulatory guidance for the industry. It’s also an event that’s occurring without the SEC simultaneously pulling back from a number of lawsuits against a handful of major crypto players. Even though the SEC hasn’t said anything about the
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