The U.S. Securities and Exchange Commission (SEC) is closing its investigation into OpenSea, a leading NFT marketplace, as confirmed by its founder and CEO Devin Finzer on social media. This decision arrives soon after the SEC moved to settle its lawsuit against Coinbase, indicating a potential easing of regulatory pressure on the cryptocurrency industry and NFT creators. The SEC initially launched the investigation in August 2024, suggesting that OpenSea might have been operating as an unregistered securities marketplace. Finzer expressed that this outcome is a victory for creators in the NFT space, arguing that classifying NFTs as securities would hinder innovation and misinterpret the law. The announcement also spurred increased activity for LooksRare's native token (LOOKS), which saw a significant rise in active addresses following the news. This development signals a positive shift in the regulatory landscape for NFTs and the broader cryptocurrency market.

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