Controversy surrounds the SEC’s NFT policy
The SEC’s stance toward Impact Theory has elicited a negative reaction from the crypto sphere.
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Oscar Franklin Tan, the Chief Legal Officer at Enjin, has criticized the SEC's approach, stating it's a mistake to blanket-label all NFTs as securities. He calls for well-defined regulations.
Mark Uyeda and Hester Peirce, who are commissioners at the SEC, have also expressed categorical disagreement with such measures, asserting that there's insufficient proof of any investment contract.
They point out that sellers of artwork, collectibles, or watches aren't generally subject to SEC lawsuits despite offering vague brand-enhancing pledges.
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