Gary Gensler and the SEC: NFTs are Securities
The SEC is going after OpenSea. Gensler is taking action because the conclusion is NFTs are securities.
In this video I discuss what is taking place and who might be behind all this.
▶️ 3Speak
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I thought OpenSea was pretty decentralized, with how users can buy and sell their assets freely. From my view, the biggest centralized part in their setup is the front end. If the governments will target the websites itself, then even decentralized options will encounter problems. If governments force internet providers to block OpenSea, or Tribaldex, or PancakeSwap, that will make things difficult. Sure they can be replaced with other website, but there is less trust on a new one, and there is risk for bad actors taking advantage of a bad situation.
It seems like things have gotten to a point where pirate interfaces are needed. Until the SEC can attack protocols themselves, that is a temporary solution. Honestly, how ironic USA the home of the "free" more like just as my friend puts it home of the complacent.
I dont know the dynamics of that entity but if there is a company behind it, that is the door they will knock on.
This whole market economy is such a mess. I hope they can be treated like art, for the objects that are backed by collectable content. Wash trading is rampant, just like in real life, except these anon wallets are even more stealth.
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