The U.S. Securities and Exchange Commission (SEC) is investigating. blockchain A new one has been added to the based projects. SEC, the world’s most famous NFT from their collections Bored Ape Yacht Club (BAYC) announced that it has opened an investigation into its creator, Yuga Labs.
The SEC will investigate spikes in the price of US-based Yuga Labs’ NFTs and whether digital asset sales are illegal. The authorized institution also belongs to the enterprise. ApeCoin (APE) also examined the token distribution of the project.
Yuga Labshas not yet faced any charges. The investigation doesn’t mean the SEC will sue the company.
Yuga Labs executives made the following statement to Bloomberg regarding the investigation:
“Everyone knows that policymakers and regulators want to learn about the Web3 world. We are not bothered by the investigation, we always want to stay in touch with organizations like the SEC to ensure the continuity of the ecosystem.”
Founded in Miami in 2021, Yuga Labs quickly became one of the most recognizable brands in the crypto universe. The monkey-themed BAYC NFTs they produced have been bought by many celebrities like Madonna.
According to the news in the past months SECis doing extensive research on the NFT market. Particularly NFTs, which can be bought and sold in parts, are on the SEC’s agenda.
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