OpenSea Requests SEC Clarity on NFT Marketplaces as Exchanges or Brokers on April 9, 2025

OpenSea, a leading NFT marketplace, has formally requested the U.S. Securities and Exchange Commission (SEC) to provide clarity on whether NFT marketplaces should be classified as exchanges or brokers under federal securities laws. This move comes as OpenSea seeks to establish clear regulatory guidelines to avoid potential legal challenges and to ensure compliance within the evolving digital asset landscape. The request highlights the need for distinct definitions in the rapidly growing NFT sector, which has seen increasing scrutiny from regulators.