NFTs Can Be Treated As Securities After Opensea Accusations

Alma Angotti, a former attorney for the US Securities and Exchange Commission (SEC), said that “information misconduct” charges against Opensea’s ex-employee could lead to the treatment of non-fungible tokens (NFTs) as securities.

Alma Angotti, June 2 After accusations of information misuse of an Opensea ex-employee in his statements to TechCrunch on NFTs can be treated as securities. told.

It may be a security under the Howey Test. If you’re buying an NFT and you’re hoping that the price will go up, making money from it, it’s not much different from securities.

Howey Testa transaction that is subject to records investment contract or securities used to determine whether

This thought of Angotti, “information abuse‘ is usually securities used and to date with cryptocurrencies based on the fact that it has never been used.

Angetti He also stated in his statements that the accusations were not surprising.

Misusing your employer’s confidential information is fraud and diverting the proceeds of this fraud into the monetary system is money laundering.

US Department of Justice, Tuesday, June 2 in a press release published on OpenSeaone of the former executives of Nate Chastainaccused of abusing inside information for personal gain.

Former OpenSea Employee Charged with Information Misconduct in the US

Related article: Former OpenSea Employee Charged with Information Misconduct in the US

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