SEC Investigation Closes Against Yuga Labs: What Does It Mean for the NFT Industry?

Jakarta, Pintu News – The United States Securities and Exchange Commission (SEC) recently announced the closure of its investigation into Yuga Labs, the company behind the Bored Apes Yacht Club NFT collection.

This decision is considered a major victory for the NFT industry and marks an important step in regulating digital assets.

Check out the full news below!

SEC Investigation into Yuga Labs Ends

The SEC investigated Yuga Labs in October 2022, focusing on whether the collection of NFTs and ApeCoin , a token associated with the Bored Apes Yacht Club, should be classified as securities under the Howey Test.

This investigation was part of a broader campaign led by former SEC Chairman, Gary Gensler, which also targeted the NFT and fractionalized NFT markets. The closing of this case without the filing of any charges by the SEC is seen as a significant regulatory victory for Yuga Labs and the NFT industry as a whole.

The SEC also ended several other investigations involving crypto companies in recent weeks. This decision coincides with the closure of the Yuga Labs investigation, signaling a change in the regulatory approach to digital assets.

Also read: Pi Network Adoption Surges Across Asia—Can It Overcome Regulatory Roadblocks?

Market Reaction and Impact on NFT Prices

The SEC’s decision to close the Yuga Labs case has positively impacted the market’s perception of NFTs. The floor price for BAYC NFTs hovers around 13.75 Ethereum , down more than 90% from its peak of 153.7 ETH in May 2022. The market anticipates that this regulatory shift will positively impact the value of NFTs in the future.

In addition, the SEC recently settled litigation with Coinbase and Kraken, and closed investigations against OpenSea, Robinhood, Gemini, and Uniswap Labs. This shows a downward trend in crackdowns on crypto companies, which may have contributed to the stabilization of the market.

Read also: US Crypto Reserve Expansion? LINK, ONDO, and LTC Could Be Next!

New SEC Initiative: Seeking Clarification on Crypto Regulation

On March 3, the SEC’s Crypto Task Force announced that it will be holding a series of roundtables open to the public under the name “Spring Sprint Toward Crypto Clarity”. The goal of the event is to establish clearer rules regarding digital assets.

The first event, “How We Got Here and How We Get Out—Defining Security Status,” is scheduled for March 21 from 17:00 to 21:00 UTC. The discussion is expected to explore important issues in crypto regulation and signify how the agency is changing its approach to digital assets.

This is an important step in determining a more stable and well-defined future for crypto regulation.

Conclusion

The closure of the SEC’s investigation into Yuga Labs marks an important turning point in broadly regulating the NFT and crypto industry. This decision reduces legal uncertainty and paves the way for further innovation and growth within the sector.

With new initiatives such as the “Spring Sprint Toward Crypto Clarity”, the SEC seems committed to creating a more conducive environment for developing blockchain technology and digital assets.

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Reference

• Crypto News. US SEC Ends Case Against Bored Apes NFTs and Yuga Labs. Accessed on March 5, 2025
• Featured Image: The Block