According to a report by Decrypt on March 22, Hester Peirce, the head of the cryptocurrency working group at the SEC, stated on March 22 that crypto projects like Stoner Cats, which use NFTs as a fundraising mechanism, should be exempt from securities regulation, and hinted that such projects may soon receive clear guidance from the powerful regulatory body.
At the SEC’s first Crypto Assets roundtable meeting, Peirce expressed to Decrypt that she was encouraged by the positive reaction to the statement that the agency released the day before (announcing that proof-of-work crypto mining does not fall under its definition of securities). Peirce indicated that NFTs might be the next asset class the agency addresses through a similar exemption statement.
“We can take the same approach to NFTs,” Peirce said, “if we can provide some framework or reference standards for NFT issuers, I think that would be very helpful.”
She further explained that statements regarding the non-securities status of certain types of NFTs may open up space for art NFTs as well as projects like Flyfish Club and Stoner Cats. These two projects were previously sued by the SEC under former chairman Gary Gensler’s leadership.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
