According to reports, the US Securities and Exchange Commission is looking into the founder of Bored Ape Yacht Club (BAYC), Yuga Labs, and other NFT producers for unregistered offers.
Regulators' inspection of Crypto and Web 3 projects is increasing, making crypto a more trustworthy security; this is a sign that the field will attract institutional investors; gain access to knowledge in crypto for financial independence through personal connection with crypto trading professionals.
Bloomberg reported on October 11 that certain Yuga Labs NFTs are now under SEC investigation as to whether they are "more analogous to stocks" and whether the sales of some digital assets violated federal regulations, citing persons with knowledge of the situation.
Meanwhile, early this year, the SEC launched an inquiry into larger NFT markets, with the goal of determining whether some NFTs and fractional NFTs might be subject to US federal securities laws.
However, the continuing Yuga Labs inquiry is in addition to the SEC's NFT markets investigation.
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