Mar 4, 06:19 AM

SEC Closes Investigation into Yuga Labs with No Charges; Over 5 Investigations Closed, $30 Million Linked to Trump

The U.S. Securities and Exchange Commission (SEC) has officially concluded its investigation into Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) NFT collection, without bringing any charges. This decision is part of a broader trend, as over five SEC investigations into various cryptocurrency companies have been closed in the past month. Yuga Labs stated that NFTs are not securities following the SEC's announcement. The closure of the investigation comes amid ongoing scrutiny of the NFT market, with warnings that NFTs resembling securities may still face regulatory checks. Additionally, DTTM Operations, a company owned by former President Donald Trump, has filed a trademark for the term 'Trump' in the NFT market.