Yuga Labs said the SEC has dropped its probe into the NFT conglomerate, which the agency first launched in late 2022.
Non-fungible token (NFT) conglomerate Yuga Labs says the US Securities and Exchange Commission has closed its investigation into the company.
“After 3+ years, the SEC has officially closed its investigation into Yuga Labs,” the company said in a March 3 X post. “This is a huge win for NFTs and all creators pushing our ecosystem forward. NFTs are not securities.”
Bloomberg first reported in October 2022 that the SEC opened a probe into Yuga Labs to determine if certain NFTs were more like traditional stocks and, therefore, securities under US laws.
