SEC Commissioner Supports Using NFTs to Raise Funds For Crypto Startups
SEC Crypto Task Force lead, Hester Peirce, has said that NFT-based fundraising projects like Stoner Cats and Flyfish Club should be exempt from securities regulations.
Peirce said that regulatory clarity could soon follow the agency’s recent decision to declassify proof-of-work crypto mining within security laws.
“We could do it on NFTs as well,” she stated. “If we could provide some kind of framework or some kind of markers for [NFT issuers] to look to, I think it could be pretty helpful.”
“Providing a framework or guidelines for NFT issuers to reference could be helpful,” she added. “We can make an announcement of an exemptive nature regarding NFTs.”
The SEC under Gary Gensler heavily scrutinized NFTs as potential…
