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The US Securities and Exchange Commission Targets NFT Creators, Marketplaces Over ICO-Like Sales

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the staff f the Ridgewood blog

Ridgewood NJ, the US Securities and Exchange Commission is investigating NFT creators and marketplaces for regulatory violations. The probe will look into whether NFTs are being used to raise money like traditional securities. Several subpoenas related to the investigation have already been issued. Experts have been warning the community about the possibility of this investigation for years. The SEC has come after ICOs for similar violations in the past. It is concerned that cryptocurrency projects are merely finding new variations of unregistered securities.

Non-fungible tokens (NFTs) seem to have exploded out of the ether this year. From art and music to tacos and toilet paper, these digital assets are selling like 17th-century exotic Dutch tulips—some for millions of dollars.

But are NFTs worth the money—or the hype? Some experts say they’re a bubble poised to pop, like the dotcom craze or Beanie Babies. Others believe NFTs are here to stay, and that they will change investing forever.

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