Crypto marketplace OpenSea has been added to the SEC's list of targets, as the regulator extends its crackdown on the sector.
The company's CEO said in a post on X on Wednesday that the U.S. Securities and Exchange Commission issued a Wells notice against OpenSea.
A Wells notice is typically one of the final steps before the SEC issues formal charges.
The letter, according to the OpenSea chief, alleges that the nonfungible tokens, or NFTs, sold on its platform are securities.
In May, investment platform Robinhood announced it received a Wells notice for the company's crypto operations.
Persons:
Wells, Devin Finzer, OpenSea, Coinbase, Gary Gensler, Crypto, haven't, Donald Trump, Trump, Gensler
Organizations:
U.S . Securities, Exchange Commission, OpenSea, SEC, NFTs, CNBC, Ethereum Foundation, Robinhood, Republican
Locations:
California, U.S