Yuga Labs says SEC has dropped its investigation into the NFT firm

Non-fungible token (NFT) conglomerate Yuga Labs says the US Securities and Exchange Commission has closed its probe into the company.

“After 3+ years, the SEC has officially closed its probe into Yuga Labs,” the institution said successful a March 3 X post. “This is simply a immense triumph for NFTs and each creators pushing our ecosystem forward. NFTs are not securities.”

Bloomberg archetypal reported successful October 2022 that the SEC opened a probe into Yuga Labs to find if definite NFTs were much similar accepted stocks and, therefore, securities nether US laws.

Source: Yuga Labs

The regulator’s probe started nether erstwhile Chair Gary Gensler and was portion of a wider probe into NFTs — which included probes connected NFT creators and marketplaces — to spot if some, specified arsenic fractional NFTs, were securities.

Yuga Labs was down immoderate of the astir fashionable and high-priced NFT collections erstwhile the marketplace was astatine its peak, including the Bored Ape Yacht Club and Mutant Ape Yacht Club. It besides bought the rights to CryptoPunks, an aboriginal NFT postulation that had historically fetched immense sums.

The SEC’s reported abandoned probe into Yuga Labs comes arsenic the regulator has been easing its attack toward the crypto manufacture nether the Trump administration.

Related: US crypto reserve nary substitute for SEC clarity — Industry exec

Late past month, NFT marketplace OpenSea said the SEC closed its investigation into the platform, which came conscionable hours aft the regulator besides dropped its suit against crypto speech Coinbase.

The SEC has dismissed different crypto-related enforcement actions it launched nether erstwhile Chair Gensler, having besides dropped a yearslong lawsuit against crypto speech Kraken connected March 3.

Cointelegraph has contacted the SEC and Yuga Labs for comment.

Magazine: How crypto laws are changing crossed the satellite successful 2025