Source: https://cointelegraph.com/news/opensea-urges-sec-exclude-nft-marketplaces-securities-regulation?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Non-fungible token (NFT) marketplace OpenSea is advocating for the exclusion of NFT marketplaces from regulation under federal securities laws by the US Securities and Exchange Commission (SEC). In a letter dated April 9 addressed to Commissioner Hester Peirce, who heads the agency's Crypto Task Force, OpenSea's general counsel Adele Faure and deputy general counsel Laura Brookover requested the SEC to clarify that NFT marketplaces like OpenSea should not be classified as exchanges under federal securities laws.

Faure and Brookover highlighted that NFT marketplaces do not meet the legal definition of an exchange under US securities laws. They emphasized that these platforms do not execute transactions, act as intermediaries, or bring together multiple sellers for the