NFT Marketplace OpenSea Says the SEC Is Ending Its Investigation

Nonfungible-token marketplace OpenSea said that it was informed by the US Securities and Exchange Commission that the regulator has ended an investigation into the company and doesn’t intend to recommend an enforcement action.

The startup last year said it received a Wells Notice, which is an indication from the SEC that it intended to sue the company. The agency at the time alleged the tokens on OpenSea were unregistered securities.

The decision comes after Coinbase Global Inc. announced earlier Friday that the SEC agreed, pending commissioner approval, to drop its lawsuit accusing the largest US crypto exchange of running an ...