OpenSea Gets SEC ‘Wells Notice’ – Industry Reaction

Tyler Winklevoss, founder of Winklevoss Capital Management and the Gemini exchange:

As a dedicated crypto investor, I find it intriguing to see the perspective of Sheila Warren, CEO of the Crypto Council. It’s no secret that Gary Gensler, in his role as a key figure, seems to be leading an advocacy for stricter regulations on cryptocurrencies. This stance has been echoed by Senator Elizabeth Warren (D-MA), who some say shares a similar ambition. However, it’s important to remember that these are efforts to establish a balanced and secure environment for the crypto market, not necessarily an ‘anti-crypto army.’

As an analyst, I’m sharing a perspective put forth by Jake Chervinsky from Variant Fund. He posits that the laws governing securities, specifically the Securities Act of 1933, may not be entirely applicable to Non-Fungible Tokens (NFTs) due to their unique nature and recent emergence in the digital landscape.

Next up: Gwart, self-described “crypto-Twitter troll,” discussing the wider implications of the SEC apparently going after the very-expansive NFT category:

Bankless co-founder Ryan Sean Adams:

VC Adam Cochrane:

Ex-CFTC Commissioner Brian Quintenz (now at a16z):

Bitcoiner Jameson Lopp arguing that, if the SEC’s intent is to protect investors, it’s years late:

Roham Gharegozlou, CEO of Dapper Labs, which has several NFT projects:

Lastly, Anthony Scaramucci claims that Gensler’s actions are undermining recent Democratic attempts to build relationships within the cryptocurrency community.

Important Note: The opinions shared within this article are solely those of the writer, and may not necessarily align with those held by CoinDesk, Inc., its proprietors, or associated entities.