OpenSea Gura Sec to drop the exchange, broker design for NFT Marketplaces

Opense called shothartions hartions and speed hartions and speed to mean knowing NFT Marketplase not exchanged or intermediaries under American securities laws.

“We suggest that the SEC clearly states that NFT Marketplaces such as Rapense are not noticed as exchanges under federal securities laws,” the non-fungible token market in a letter Yes Sex Commissioner Sher of Hester.

Opense claims that NFT platforms do not match the legal definition of exchanging or brokers, because they do not process transactions, act as intermediaries or gather more sellers of the same property.

Most NFTS is unique digital means, which means that there is only one seller for each token. This inherent negative, OpenSea is hard, disqualifies such assets to fall under the regulatory framework designed for lush securities with multiple sellers.

In addition, the letter emphasizes that all transactions involving NFTS directly on the blocks via smart contracts, regardless of the OpenSea platform.

Users maintain custody of their own assets and initiate transactions through their personal wallets. Opense is just “allowing people to discover NFTS and connect with customers and sellers,” it works more like an interface from a financial intermediary.

Given this decentralized structure, OpenSea claims that traditional regulatory requirements, such as capital maintenance, postponement records and standards of professional conduct are unnecessary and non-compliant with the NTF Marketplaces operational model.

Opensea cannot be classified as a broker

Opensea also maintains it should not be classified as a broker under the defororation, recurring that investment advice, negotiate assets or execution of transactions, detention or mitigation, usually refers to funding or documentation.

Drawing on a legal presedent, the letter quoted Sec v. Coins decisionWhere the Court found that only the provision of banknot software and access data data did not establish a broker status.

Opense has claimed that their operations are similarly limited, noticing that showing a list or expiration of Trending NFTS is not equivalent to offer investment advice or act as an intermediary.

To remove uncertainty in progress, OpenSea called to perform informal guidance, which is clear that it is clear that NFT Marketplaces are not subject to exchanging or brokerage regulations.

It is recommended to be clearly released or staff to clarify how much the 3b-16 rule, which describes the criteria for what is the exchange of securities, refer to the NFT Marketplaces, similar to recent statements about memes and stabilies.

“This clarification would offer immediate benefits for NTF collectors, customers and sellers, as well as a broader NFT ecosystem, removing regulatory insecurity,” he added.

The ambiguity about the security status of the NFTS came in a sharper focus last year when OpenSea received Bunar notification of a secondA warning of potential implementation of action.

However, in February 2025. year, agency formally closed Investigation without submission of charges after the return of President Donald Trump aimed to facilitate CRIPTO execution and Priority Regulatory clarity.