Ripple Takes Aim at SEC’s NFT Enforcement, Citing 47-Year-Old Ruling

Stuart Alderoty, the chief legal officer of Ripple, is publicly challenging the U.S. Securities and Exchange Commission (SEC) after the agency issued a Wells Notice to OpenSea, the world’s largest NFT marketplace.

The SEC alleges that NFTs sold on OpenSea are securities, a claim that Ripple’s CLO argues contradicts a 1976 SEC ruling on art galleries. This move marks a significant escalation in the ongoing battle between crypto companies and the SEC over the regulation of digital assets.

Clever Robot News Desk 31^st August 2024