05/03/2025 Yuga Labs says SEC has dropped its investigation into the NFT firm
Yuga Labs said the SEC has dropped its probe into the NFT conglomerate, which the agency first launched in late 2022.
Non-fungible token (NFT) conglomerate Yuga Labs says the US Securities and Exchange Commission has closed its investigation into the company.
âAfter 3+ years, the SEC has officially closed its investigation into Yuga Labs,â the companysaidin a March 3 X post. âThis is a huge win for NFTs and all creators pushing our ecosystem forward.â
âNFTs are not securities,â it added.
Bloomberg first reported in October 2022 that the SECopened a probe into Yuga Labsto determine if certain NFTs were more like traditional stocks and, therefore,securitiesunder US laws.
Source:Yuga Labs
The regulatorâs probe started under former Chair Gary Gensler and was part of a wider investigation into NFTs â which included probes on NFT creators and marketplaces â to see if some tokens, such asfractional NFTs, were securities.
Yuga Labs was behind some of the most popular and high-priced NFT collections when the market was at its peak, including the Bored Ape Yacht Club and Mutant Ape Yacht Club. It also bought the rights to CryptoPunks, an early NFT collection that had historically fetched huge sums.
The floor price of Yuga Labsâ flagship Bored Ape collection saw a slight bump after the companyâs post to 13.75 Ether, around $29,650, but is down over 0.5% in the past day, according to OpenSeadata.
The collection is still over 90% down from its May 2022 peak floor price of 153.7 ETH, which wouldâve priced the cheapest Bored Ape NFT around $430,300 as ETH traded at $2,800.
Yuga Labsâ Mutant Ape NFTs and a token tied to the companyâs NFTs called ApeCoin APE $0.5737are also both down 95% or more from their 2022 peaks, CoinGeckoshows. CryptoPunks floor prices are alsodownover 70% from the collectionâs peak.
The SECâs reported abandoned investigation into Yuga Labs comes as the regulator has been easing its approach toward the crypto industry under the Trump administration.
Late last month, the NFT marketplace OpenSea said the SECclosed its investigationinto the platform, which came just hours after the regulator dropped its lawsuit against crypto exchange Coinbase.
The SEC has dismissed other crypto-related enforcement actions it launched under Gensler, having alsodropped a lawsuitagainst crypto exchange Kraken on March 3.
An SEC spokesperson declined to comment. Yuga Labs did not immediately respond to a request for comment.
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https://cointelegraph.com/news/yuga-labs-sec-closed-investigation-nft-platform
