The US Sec ends the case against annoying monkeys NFTS Creator IUGA Labs

The US Securities and Exchange Commission officially closed its investigation into the IUGE Labs, the company behind the annoying aggregate collection collections of Apes Yacht.

The regulator will not take any action of execution and has not issued any charges against the company. The IUGE laboratories confirmed the news at 3. place on X, calling it “huge victory” for the NFT industry and creators. The company added, “NFTS are not securities.”

SEC started its probe in Yuge Labs in October 2022. years in order to determine if its NTF collections and apekoin (Monkey), A token associated with BAIC, should be classified as securities under the Howey’s test. The inquiry was part of a larger campaign against the NFTS at the forefront of the former Deca Gary Glensler, which was also directed at the NFT markets and fractionated NFTS.

For IUGE laboratories and the greater NFT industry, the SEC decision to close the case without submitting any costs is considered a major victory of regulation. The moment is discarded Other investigations involving cryptocurrency companies in the last weeks, which coincide with the decision on the conclusion of the IUGA Laboratory request.

The Agency recently settled a civil litigation with coinbase and Kraken and concluded investigations of decay, birth, Geminiand Unisvap laboratories. The market predicts that the regulatory shift will have a positive impact on BAIC NFTS floor pricewhich is currently traded in 13.75 Ethers (El), more than 90% of its top of 153.7 eel in May 2022. years.

Meanwhile, 3. Marta, Sec’s crypto working group discovered On the official website of the regulator to maintain a series of roundtables for the public called “Spring Sprint Krypto clarity”. The aim of these round tables is to determine more precise rules related to digital assets.

The first event, “How we arrived here and how we exit – defining security status”, set for 21. March from 17:00 to 21:00 UTC. These conversations will investigate important issues in crypto offices and signals that the agency changes the attitude of digital property.