NEWSLETTER
The company that created the boring APE Yacht Club (Bayc) nfts, Yuga Labs, is celebrating an important victory in the court. Without pursuing any compliance measure, the United States Stock Exchange and Securities Commission (SEC) formally has <a target="_blank" href="https://www.theboredapegazette.com/post/nfts-are-not-securities-the-sec-closes-its-three-year-investigation-into-yuga-labs” target=”_blank” rel=”noopener nofollow”>He concluded his research In the company.
This decision ends a probe that lasted more than three years and questioned whether Yuga Labs nft sales and their token appealing (APE) should be classified as values.
The SEC probe and its purpose
The SEC first launched its research on <a target="_blank" href="https://news.bloombergtax.com/daily-tax-report-international/bored-ape-creator-yuga-labs-says-sec-drops-probe-into-nft-firm” target=”_blank” rel=”noopener nofollow”>Yuga Labs In October 2022. At that time, regulators were investigating whether Bayc nfts and Apecoin fell under federal laws of values. The investigation was part of a broader effort to determine how digital assets should be regulated in the US.
Yuga Labs maintained throughout the investigation that nfts are not values. On March 3, 2025, the company announced in x (previously twitter) that the SEC had officially closed its case, calling it “a great victory for nft and all the creators who promoted our ecosystem.”
<blockquote class="twitter-tweet”>
After more than 3 years, the SEC has officially closed its research in Yuga Labs.
This is a great victory for nft and all creators who drive our ecosystem. nfts are not values.
– Yuga Labs (@yugalabs) <a target="_blank" href="https://twitter.com/yugalabs/status/1896687377915187538?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>March 3, 2025
A long wait for clarity
Yuga Labs worked in the shadow of the research of the SEC for more than three years. The nft space was tense due to uncertainties around possible regulatory actions. Many industry participants were worried that a decision against Yuga laboratories could result in stricter guidelines for other nft initiatives.
Now that the case has been eliminated, some see it as a sign that regulators could be rethinking their approach to nft. Others believe that this could simply be one of the many steps before the SD completely determines how it wants to handle digital collectibles.
How the nft market reacted
The news was received with a positive response from the nft community. The supporters and figures of the Yuga Labs industry praised the decision of the SEC as a sign that <a target="_blank" href="https://www.investopedia.com/non-fungible-tokens-nft-5115211″ target=”_blank” rel=”noopener nofollow”>nfts It may not face the same regulatory scrutiny as some cryptocurrencies.
But it is not yet clear what the SD will do with other nft projects in the future. Research on this case is over, but that does not mean that the like does not happen again in the future. For now, Yuga Labs has come out at the top.
What this means for cryptographic regulation
The SEC's decision to suspend your investigation without presenting positions can have an impact on how regulators see nft in the future. While this does not establish a legal precedent, it suggests that the agency is willing to distinguish between different types of digital assets.
Some experts think that this could be a turning point, while others warn that it will spend a lot of time before the regulations are clear. No matter what, the end of this probe is good for Yuga Labs and the nft space as a whole.
Night image of Gemini Image, TrainingView graphic
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