Note that bold <\/strong>is the part I added and is not from the original article.<\/p>\n

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SEC Crypto Task Force lead Hester Peirce said Friday that crypto projects like Stoner Cats\u2014which used NFTs as a fundraising mechanism to fund their work\u2014should be exempt from securities regulations, and may soon receive that clarity from the powerful regulator.<\/p>\n

I guess this is a good.\u00a0 I don\u2019t really know.\u00a0 I was just\u00a0 looking at the website OpenSea where NFTs are traded.\u00a0 I will be honest.\u00a0 It is kind of confusing to me. LOL<\/strong><\/p>\n

Backstage at the SEC\u2019s first ever crypto roundtable Friday afternoon, Peirce\u2014who along with Acting SEC Chair Mark Uyeda now leads the SEC\u2019s efforts following Gary Gensler\u2019s resignation\u2014told Decrypt she\u2019s 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.<\/p>\n

But haven\u2019t the courts, though mixed rulings, brought into question the SEC\u2019s role in regulating Crypto.\u00a0 And Congress is working on legislation that may or may not clarify the issue.\u00a0 So while Trump\u2019s 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.\u00a0 Is Trump\u2019s SEC basically just f with Crypto but in a different way, while still trying to establish their power to regulate.<\/strong><\/p>\n

\u201cWe could do it on NFTs as well,\u201d Peirce said. \u201cIf 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.\u201d<\/p>\n

When someone says they are\u00a0 from the government and they are there to help, don\u2019t you pretty much know they are there to f you.<\/strong><\/p>\n

It should be noted that the NFT\u2019s future is somewhat questionable, no matter what the SEC or Congress does.<\/strong><\/p>\n

Original Article:<\/p>\n

https:\/\/decrypt.co\/311158\/crypto-startups-money-fundraising-nfts-sec-peirce<\/a><\/p>\n

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