In an interview with DL News about the SEC's WellNotice against OpenSea, law professor Brian Frye and artist Jonathan Mann said: "Suing OpenSea is like suing eBay for selling trading cards or Sotheby's for selling art. The SEC's only criterion is whether the asset is on the blockchain."
Previously, two NFT artists sued the US SEC over whether NFTs are securities and their jurisdiction. Law professor Brian Frye and "Songa Day Mann" songwriter Jonathan Mann filed a lawsuit against the SEC and its five commissioners in the US District Court for the Eastern District of Louisiana on Monday. Lawyers for the two artists accused the SEC of waging a "campaign" for jurisdiction, and cited Taylor Swift's ticket as an example, arguing that the SEC's classification of NFTs as securities is ridiculous, in addition to citing two recent cases against NFTs by the agency.
Analysis: The Key Point of SEC's Well Notice on OpenSea Is Whether the Asset is on the Chain
2024-08-29 06:31:23
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