SEC Commissioner Hester Peirce stated that crypto projects should be allowed to raise funds through NFTs without being classified as securities. During the SEC’s first crypto roundtable, she expressed optimism about potential clarity regarding NFTs, similar to recent statements on proof-of-work mining. Peirce highlighted successful fundraising projects like Stoner Cats, which raised $8 million through NFTs, and Fly Fish Club, which made over $14 million. She suggested that a framework could be established to determine certain NFTs, such as those offering tangible perks, as non-securities. Nevertheless, Peirce warned that not all NFTs would be exempt; some could still be classified as securities based on their structure. Additionally, there is a push in Congress to protect NFT fundraising activities, with some lawmakers advocating for legal frameworks that allow NFTs that provide memberships or other benefits. These developments could signify a shift towards more regulatory clarity for crypto fundraising utilizing NFTs.

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