• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Breaking News: BREAKING: President Trump Signs ‘GENIUS Act' Making Crypto History
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: President Trump Signs ‘GENIUS Act' Making Crypto History
Crypto

OpenSea’s SEC Wells Notice Triggers Feedback From Top Crypto Figures & Politicians

Ronaldo Marquez
by Ronaldo Marquez
10 months ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

OpenSea, one of the largest marketplaces for non-fungible tokens (NFTs), found itself at the center of controversy after the Securities and Exchange Commission (SEC) issued a Wells Notice early Wednesday over the alleged classification of NFTs as “securities.” 

This prompted reactions from prominent figures in the crypto industry, US senators, and market experts, all of whom expressed deep concern about what they perceive as ongoing “regulation by enforcement.”

OpenSea Eyes Court Battle Against SEC

Market expert Adam Cochran has floated a bold proposition, suggesting that OpenSea may have a rare opportunity to challenge the SEC’s regulatory stance through legal means. 

Related Reading: Pro-XRP Lawyer Lowers Odds For SEC Appeal Against Ripple To 55%

Cochran advocates for OpenSea to potentially contest the SEC in court using a writ of mandamus, a legal avenue that urges the courts to compel an agency to fulfill its duties. 

The argument hinges on the assertion that NFTs, as digital collectibles, are unfairly targeted by the SEC, while traditional collectible issuers such as Topps, Hasbro, and Rolex remain unscathed. 

This perceived inconsistency in enforcement, Cochran argues, raises questions of arbitrariness and calls into question the SEC’s duty to protect US investors. The expert further contended that this is “arbitrary and capricious” enforcement in violation of the Administrative Procedure Act (APA):

I’ll say for the third-time, it’s a long shot, there is a good chance a court will defer to regulators discretionary powers, or find OpenSea doesn’t have a legal right to relief – but most crypto companies don’t have a history of comparable to collectibles.

Ryan Sean Adams, of Bankless, joined the chorus of dissent, highlighting the SEC’s purported intention to categorize NFTs as securities, adding a new layer of complexity to the unfolding saga. 

Adams decries what he perceives as an assault on crypto entities like OpenSea, labeling the SEC’s actions as an affront to constitutional rights and an impediment to crypto innovation in the US. 

According to Adam’s assessment of the matter, the targeting of key crypto platforms such as Metamask, Coinbase and Uniswap illustrates a broader crackdown on the sector and raises concerns about the future of digital asset regulation.

Lawmakers Push For Fair Crypto Rules

Congressman Wiley Nickel also weighed in, condemning the Securities and Exchange Commission approach as a “blatant abuse of power” that undermines trust in the regulatory system. 

In a recent social media post, the Congressman called for a collaborative effort between the Commission and Congress to develop clear and fair regulations that would foster innovation rather than inhibit it.

Related Reading: AVAX Retraces To Key Support Level: Expert Expects $32 Target By October

The reaction from industry leaders and lawmakers reflects a growing unease with the SEC’s regulatory tactics that the industry has experienced in the last years under the Biden administration and the leadership of SEC Chairman Gensler. 

Critics argue that the aggressive enforcement actions are creating uncertainty and could hinder the progress of digital innovation in the United States. As the situation develops, the pressure mounts for the SEC to provide clearer guidance on NFTs.

OpenSea
The 1D chart shows the total crypto market cap valuation at $2 trillion. Source: TOTAL on TradingView.com

Featured image from DALL-E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Coinbase

Crypto Graveyard Grows: Coinbase Says $3.4B In ETH Is Irrecoverable

2 hours ago
Crypto news

‘Banksters Are Out To Kill Crypto,’ Tyler Winklevoss Slams JPMorgan

4 hours ago
Crypto

US White House To Release First Crypto Policy Report Tomorrow — What To Expect

16 hours ago
Strategy’s $71B BTC Bet Puts It Near S&P500 — What It Means for Bitcoin Hyper

Strategy’s $71B BTC Bet Puts It Near S&P500 — What It Means for Bitcoin Hyper

17 hours ago
ETH Nears $4K After 50% Surge and $100M in Shorts Burned – Spotlight on the Best Altcoins

ETH Nears $4K After 50% Surge and $100M in Shorts Burned – Spotlight on the Best Altcoins

11 hours ago
Altcoins Fuel Wall Street’s Infinite Money Glitch — Best Crypto to Buy Now

Altcoins Fuel Wall Street’s Infinite Money Glitch — Best Crypto to Buy Now

19 hours ago

Premium Sponsors

Press Releases

  • Looking for Stable Digital Asset Growth? JA Mining Cloud...

    9 hours ago
  • ETHRANSACTION launches cloud mining using XRP conversion...

    12 hours ago
  • ASICs

    Cloud Mining for the Next Generation: BeMine Combines ASIC...

    13 hours ago
  • fun

    FUNToken Burns 12 Million $FUN in Deflationary Power Move

    15 hours ago
  • MEXC Partners with Solana to Launch Eco Month Event...

    21 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.