(2024)
SEC v. OpenSea
Year
2024
Criminal or Civil
N/A – Investigative review, not a lawsuit
Year Resolved
2025
Jurisdiction (Court/State)
No formal court case filed; SEC administrative jurisdiction
Filed By
U.S. Securities and Exchange Commission (SEC)
Penalty/Fine (USD)
None
Lawsuit Overview
The SEC investigated OpenSea over concerns it was operating as an unregistered securities marketplace. Although a Wells notice was issued in August 2024, signaling possible enforcement, the SEC officially closed the investigation on February 21, 2025, and declined to pursue charges. This decision was viewed as a regulatory win for OpenSea and the broader NFT industry.
Category
Regulatory Investigation (No Charges Filed)
Notable Individuals Involved
Devin Finzer (CEO, OpenSea)
Chris Akhavan (Magic Eden)
SEC Chair under new administration (policy shift implied)
Investor Loss Estimate
None (no enforcement, no financial restitution or claims pursued)
Final Outcome
Case closed, no enforcement action
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