Yoga Labs, which specializes in non -fungal token (NFT), announced that the United States’ Securities and Exchange Commission (SEC) formally closed its investigation into the company.
In a post on X on March 3, the company wrote:
“After more than three years, the century has officially stopped its investigation into yoga labs. It is a huge victory for all creators who contribute to the development of the NFT and our ecosystem. NFT is not financial qualifications.”
The century investigation, launched in October 2022, aims to determine whether some NFT can be equated to traditional equity securities and therefore are subject to US rules regarding financial securities. The investigation was included in a broader survey on the entire NFT sector, including checks on the creators and markets, which paid special attention to the distributed token.
Source: Yoga labs
Yoga Labs was one of the main characters of NFT Boom: the company launched some of the most successful collections, including Boring APY Yacht Club E The catalyst monkey yacht club. Also obtained the rights cryptopunksOne of the first NFT reservoir, which is known to reach record prices.
After the announcement of the survey’s closure, the submission of the boring APE has increased the minimum price of NFT slightly to 13.7 ETH. But the cost of this collection is still less than 90 % of the historical maximum of May 2022, when the minimum price was 153.7 ETH.
The collecting token Apicon (APE) and mutant monkeys also suffered more than 95 % of the maximum loss of 2022. Instead, the minimum price of cryptoponics decreased by more than 70 % compared to the peak.
The closure of the survey on Yoga Labs is part of a major context to reduce the century regulatory activity in the crypto sector. In late February, the Openia Market Place announced the closure of the SEC on the platform, which took place a few hours after the withdrawal against the exchange coin base. In addition, on March 3, the century filed a legal action against the Cracken Exchange.
