SEC to Probe Yuga Labs Over Unregistered Offerings – ARTnews.com


The US Securities and Exchange Commission (SEC) is launching a probe into Yuga Labs, the parent company of the viral Bored Ape Yacht Club NFT collection, over a potential securities violation related to its offerings of digital assets, Bloomberg reported Tuesday.

The SEC is investigating whether or not non-fungible tokens offered via sales by the Florida-based company are comparable to traditional stocks, sources told Bloomberg. As part of its probe into Yuga, the agency is also investigating whether or not sales of digital assets should be subject to the same disclosures required by law for securities offerings.

According to Bloomberg, the financial regulator is looking into the Yuga Lab’s distribution of ApeCoin, a cryptocurrency designed for web3, a series of decentralized web platforms based on blockchain technology.

Yuga Labs has not, as of now, been accused of violating the law or misconduct.

In a statement to Bloomberg, Yuga Labs said it is prepared to partner with authorities and industry experts “to define and shape the burgeoning ecosystem.”



Source link

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.

Close Popup
Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

Technical Cookies
In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

WooCommerce
We use WooCommerce as a shopping system. For cart and order processing 2 cookies will be stored. This cookies are strictly necessary and can not be turned off.
  • woocommerce_cart_hash
  • woocommerce_items_in_cart

Decline all Services
Save
Accept all Services
Open Privacy settings