Cripto Startups should be allowed to collect money with NFTS, SEC leadership says

SEC CRIPTO Working Group Lead Hester Peirce has said CRIPTO projects such as NFTS as a funding for funding for their work – should be exempt from securities value and can soon obtain that clarity from powerful regulators.

The background in the first first round Cripto Roundtable on Friday afternoon, Peirce-who together with the acting chairman Marka Uyeda now leads the EXECUTIONS SEC after Gary Gensler resignation-Yes Decipher She heard positive responses to the statement issued by the agency yesterday proclamation Propoin-operation crypt to crypt not to fall under his definition of securities. Peirce said that the NRTs could be the next category of assets agencies deals with a similar exceptional statement.

“We could also be on NFTs, “Peired said.” If we could provide some kind of frame or some kind of marker for (NFT publishers) to look, I think that might be quite useful. “

NFTS are digital tokens that exist on Blokschain networks such as Etherum and Solana. They are usually connected to digital art and are purchased and sold at secondary markets as trade means. The NFTS market has reached the peak at the end of 2021. years, ascending to as much as $ 25 billion At the peak mania, with entrepreneurs crypto entrepreneurs using these tokens to raise billions for different endeavors.

The Commissioner continued to elaborate that the statement of the uncertain status of certain species of NFTS could utter artistic NFTS, as well as NFTS that resemble the lists of FLIFISH CATS and the CATS-two projects under the guidance of former Garijev Gensler.

Stoner Cats, an Animated series Produced by the actress Mila Kunis, raised about $ 8 million, through the sale of NFTS, to finance the show. The NFTS offered owners to certain perks, including access to the series, but were also traded in middle markets. Any transaction of the secondary market provided a team Stoner CATS with 2.5% meaning, the percentage of each sale went to the project as income.

In a similar situation, Flifish Club Over $ 14 million, through NFT sales, financed the construction of a private restaurant only for members. The NFTS, which offered a restaurant membership, are also avoidable in secondary markets with similar structures of buildings in place.

Should SEC be issued a statement of such NFTs, similar to statements issued in recent weeks on proving creptove mining and Meme coinsThe proclamation would effectively signal the open season for projects using trading NFTS with perks as funds for funds funds.

This does not mean, however, if the project contains NFTS, it would, therefore free the regulations on securities, emphasized by Bako.

“You could have NFT, it is tokenized security, and that could be structured as NTF,” she said. “Apparently it won’t be carved.”

A similar pressure to protect certain funds collection activities through NFTS sales currently underway in Congress. As crypto connected legislation Starts to go through the house and the Senate, some legislators advocated Include language In those accounts that would legalize the sale of NFTS by offering perks such as membership, goods or works of art.