{"id":9566,"date":"2022-03-03T16:27:44","date_gmt":"2022-03-03T16:27:44","guid":{"rendered":"http:\/\/egrowonline.com\/?p=9566"},"modified":"2022-03-03T16:27:44","modified_gmt":"2022-03-03T16:27:44","slug":"after-killing-the-ico-craze-the-sec-takes-on-nfts-report-bitcoin-united-states-dollar-btc","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=9566","title":{"rendered":"After Killing The ICO Craze, The SEC Takes On NFTs: Report &#8211; Bitcoin &#8211; United States Dollar ($BTC)"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"article-25958259\">\n<p>The\u00a0Security and Exchange Commission is investigating the non-fungible token market \u2014 after having killed the initial coin offering craze in 2017 by deeming most tokens unregistered securities.<\/p>\n<p><strong>What Happened:<\/strong>\u00a0The SEC issued summons to\u00a0NFT creators and crypto exchanges to obtain additional information about the projects and find out whether the market does comply with financial regulations, according to a Thursday Bitcoinist\u00a0<a target=\"_blank\" href=\"https:\/\/bitcoinist.com\/sec-is-probing-the-nft-market\/\" rel=\"noopener\">report<\/a>.<\/p>\n<p><em>See Also:<\/em>\u00a0<em><a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/money\/how-to-get-free-nfts\/\" rel=\"noopener\">HOW TO GET FREE NFTS<\/a><\/em><\/p>\n<p>The SEC&#8217;s main goal is to understand whether NFTs are being used as means to raise funding in a way resembling traditional securities. The focus of the investigation is fractional NFTs that split the ownership of a single unique asset (or collection) among multiple token holders,\u00a0sources familiar with the matter told Bitcoinist.\u00a0<\/p>\n<p>A Dilendorf Law Firm representative told Bitcoinist that\u00a0fractional NFTs may end up being considered securities and that United States law may end up viewing some non-fungible tokens as securities, but perhaps not all.<\/p>\n<p>The law firm also reportedly said\u00a0NFTs that are unique pieces of art or other objects and serve as blockchain-enabled certificates of authenticity are unlikely to be deemed as securities.<\/p>\n<p>On the other hand, NFTs that are distributed among the general public with a promise of liquidity and continuous services from the issuer \u2014 that increase the token&#8217;s value \u2014 may be found by the SEC to indeed be securities, the report said.\u00a0<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/22\/03\/25958259\/after-killing-the-ico-craze-the-sec-takes-on-nfts-report\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Security and Exchange Commission is investigating the non-fungible token market \u2014 after having killed the initial coin offering craze in 2017 by deeming most tokens unregistered securities. What Happened:\u00a0The SEC issued summons to\u00a0NFT creators and crypto exchanges to obtain additional information about the projects and find out whether the market does comply with financial regulations, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[50,194,2983,579,838,112,502,146,605,578,438,577],"class_list":["post-9566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-bitcoin","tag-btc","tag-craze","tag-dollar","tag-ico","tag-killing","tag-nfts","tag-report","tag-sec","tag-states","tag-takes","tag-united"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/03\/nft-g1202cf68c_1920_0.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9566"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9566\/revisions"}],"predecessor-version":[{"id":9568,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9566\/revisions\/9568"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/9567"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9566"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}