NFT creator Yuga Labs investigated by SEC for these reasons – Katoch Tubes

Yuga Labs under  the SEC Scanner

About Yuga Labs

Founded in Feb 2021 & based in US, Yuga Labs is the creator of famous NFT projects like Bored Ape Yacht Club that sold worth millions of dollars

The blockchain used

The NFTs launched by Yuga  Labs are built on Ethereum blockchain and sold in  OpenSea marketplace.

What's the news?

Yuga Labs has been investigated by SEC over the sales of its digital assets considering whether or not it violated the federal law

More into Investigation

SEC doubts that some of the NFTs sold are considered equivalent to stocks or a security.

If Yuga Labs pleads guilty?

If Yuga Labs NFTs were proved to be traded as stocks than it will come under purview of federal securities laws like Ripple XRP

Response from Yuga Labs

Yuga has released a statement of full cooperation with the SEC and will also help them with the investigation.

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