Breaking: SEC Investigating Creator of Bored Ape Yacht Club NFT Collection
11 Oct, 2022•1 min read•Regulation
Yuga Labs Inc., the creator of the Bored Ape Yacht Club collection of non-fungible tokens, is under an investigation by the U.S. Securities and Exchange Commission, Bloomberg reports.
The aim of the probe is to determine whether or not the company violates federal securities laws with some of its offerings.
A person familiar with the investigation claims that the SEC might view some of Yuga Labs's' NFTs as stocks.
The probe will also focused on the Ape Coin (APE), which might be an unregistered security.
The report says that it is now clear whether the regulator will take Yuga Labs at this point of the investigation.
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