SEC Closes Investigation into Yuga Labs, Boosting NFT Market Confidence
04.03.2025 02:54
The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) NFT collection, without taking enforcement action. This decision, announced by Yuga Labs on Monday, is seen as a significant victory for the NFT industry, particularly after the SEC scrutinized the company since 2022 regarding potential violations related to its NFT offerings and ApeCoin token distribution. The SEC's closure of the case indicates a possible shift in regulatory stance, as the agency has recently dropped cases against notable crypto firms such as Coinbase and Binance, and reorganized its crypto division. Following this announcement, Yuga Labs is expected to bolster its crypto initiatives and market presence.
The closure of SEC's investigation may lead to positive sentiments in the market, likely resulting in a price increase for ApeCoin.
Sources
SEC Ends 3-Year Probe Into Yuga Labs—What’s Next?
Bitcoinist.com
04.03.2025 17:30
SEC concludes Yuga Labs, Bored Ape Yacht Club investigation with no charges
cryptoslate.com
04.03.2025 00:30
SEC Drops Yuga Labs Probe—No Charges for Bored Ape Creators
coinfomania.com
04.03.2025 11:55
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