Today, important news came from the NFT sector, which made a breakthrough last year and disappointed its investors today. An investigation has been launched against the creator of Bored Ape Yacht Club NFTs, which feature the iconic monkey figure, including some of the highest-priced NFTs in the NFT market.
The United States Securities and Exchange Commission (SEC) has opened an investigation into Yuga Labs, the creator of the Bored Ape Yacht Club NFTs. The reason for the investigation was not the collapse of the NFT industry or the financial loss suffered by those who invested in these NFTs.
Why was the investigation opened?
According to information learned by Bloomberg from an anonymous source, the investigation was initiated to determine whether the NFTs offering for sale was similar to stocks, thus examining the necessity of the same rules.
Alongside the NFTs, the SEC has also placed the distribution of ApeCoin under scrutiny. This cryptocurrency was distributed to people holding Bored Ape Yacht Club NFTs.
The SEC wants to examine the vast majority of crypto assets:
The new investigation into Yuga Labs is considered a new step taken by SEC Chairman Gary Gensler to ensure crypto assets comply with SEC regulations. Gensler has said many times before that crypto assets should be regulated by the SEC.
The SEC’s investigation into Yuga Labs does not mean that Yuga Labs has taken any illegal action. But the outcome of the investigation will be of great importance to the future of NFTs. The SEC may have the potential to enact some regulation for NFTs and tokens.
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