9:05 p.m. ▪
3
Min read ▪ by
Opensea, the world leader in the NFT market, comes down to the dry. On April 9, 2025, the platform sent an official letter to Commissioner Hester Peirce to defend a clear point: NFT are not financial titles, and Opensea is neither a broker nor an exchange.
NFT regulation: Opensea raises his voice against the dry
48 hours before the dry round table on cryptographic regulations, Opensea strikes the table. In an 8 -page document, market legal management reminds us that NFTs, mainly used as collectibles or digital works of art, are not acquired with an investment prospect, but for their artistic or cultural value. This position aligns with the dissent expressed by Commissioner Peirce during the Stoner Cats affair.
However, the SEC has published a “well opinion” against Opensea, which implies that the platform would work as an unregistered exchange or broker. This classification is firmly rejected by the company, based on the legal definition of a broker according to the Securities Exchange Act of 1934, which declares:
The term “broker” refers to anyone who performs the activity of execution of transactions on securities on behalf of others.
This legally implies several elements, namely:
- Perform transactions regularly on financial securities;
- Actively request investors;
- Receive remuneration according to transactions;
- Hold or manage customer funds or assets;
- Provide investment advice or recommendations.
Opensea stresses that it does not hold user assets, provides no investment advice and does not perform any transaction: everything is done via smart blockchain contracts. Consequently, neither computer science nor other similar platforms should be classified as brokers.
Preserve innovation
Opensea goes further and asks that the SEC quickly publishes clear directives to the exclusion of NFT markets from current regulations on securities. He also invites the use of article 36 of the exchange law to formalize an exemption.
The stake? Preserve innovation. According to Opensea, the application of the regulation of titles to NFTS would hinder a still young, open and transparent sector based on a direct interaction between users.
Despite the collapse of 63% of the NFT market in T1 2025, this area remains extremely sensitive for regulators. However, OpenSessea hopes that the dry will choose the option of common sense and balance rather than that of surregulation.
Maximize your Consribune experience with our “Read to garn” program! For each article you read, earn points and access exclusive rewards. Register now and start gaining advantages.
The world evolves and adaptation is the best weapon to survive in this wavy universe. Originally a director of the cryptographic community, I am interested in everything that is directly or indirectly linked to blockchain and its derivatives. To share my experience and promote an area that fascinates me, nothing is better than writing informative and relaxed articles.
Non-liability clause
The points of view, the thoughts and opinions expressed in this article belong only to the author and must not be considered as investment advice. Do your own research before making investment decisions.
