NFT Marketplace OpenSea Receives SEC Warning of Enforcement (1)

Nonfungible token marketplace OpenSea said it has received a Wells Notice from the US Securities and Exchange Commission, indicating the regulator’s intention to sue the company.

The agency alleged the tokens on its platform are unregistered securities, OpenSea Chief Executive Officer Devin Finzer said in a blog post Wednesday. The SEC does not comment on the existence or nonexistence of a possible investigation, an agency spokesperson said.

The notice would represent the latest in a string of enforcement actions brought by the SEC against the crypto industry in recent years. Companies including Kraken, Coinbase, Consensys and Uniswap have all ...