Note that bold is the part I added and is not from the original article.
SEC Crypto Task Force lead Hester Peirce said Friday that crypto projects like Stoner Cats—which used NFTs as a fundraising mechanism to fund their work—should be exempt from securities regulations, and may soon receive that clarity from the powerful regulator.
I guess this is a good. I don’t really know. I was just looking at the website OpenSea where NFTs are traded. I will be honest. It is kind of confusing to me. LOL
Backstage at the SEC’s first ever crypto roundtable Friday afternoon, Peirce—who along with Acting SEC Chair Mark Uyeda now leads the SEC’s efforts following Gary Gensler’s resignation—told Decrypt she’s been heartened by positive responses to a statement the agency issued yesterday declaring proof-of-work crypto mining to not fall under its definition of securities. Peirce said NFTs could be the next asset category the agency addresses with a similar exemptive statement.
But haven’t the courts, though mixed rulings, brought into question the SEC’s role in regulating Crypto. And Congress is working on legislation that may or may not clarify the issue. So while Trump’s SEC is pretending how they are friendly toward crypto, are they in fact trying to establish they have the right to regulate crypto by doing the exemptions which can be changed at any time. Is Trump’s SEC basically just f with Crypto but in a different way, while still trying to establish their power to regulate.
“We could do it on NFTs as well,” Peirce said. “If we could provide some kind of framework or some kind of markers for [NFT issuers] to look to, I think it could be pretty helpful.”
When someone says they are from the government and they are there to help, don’t you pretty much know they are there to f you.
It should be noted that the NFT’s future is somewhat questionable, no matter what the SEC or Congress does.
Original Article:
https://decrypt.co/311158/crypto-startups-money-fundraising-nfts-sec-peirce
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