SEC goes after NFTs as securities, serves Wells Notice to OpenSea

OpenSea was a star YC-incubated company several years ago

I personally saw Fred Wilson of USV fuming in NYC btw when it came to pre-Genzler SEC going after Kik Messenger and others, that he invested in. It is what spooked BlockStack / CityCoins into being so decentralized they never took any action.

But NFTs have until now not been considered securities, since they supposedly are “finished works” and “dependent on efforts of others”.

The way the case law developed, in theory are there any limits to the SEC’s purview? It all reminds me a bit of this Bloomberg article: “everything everywhere is securities fraud”:

https://www.bloomberg.com/opinion/articles/2019-06-26/everyt...