Immediate token (NFT) Konglomerate Yuga Labs claims that the American Securities and Exchange Commission has completed an investigation into the company.

“After more than 3 years, SEC officially closed the investigation in the Yuga Labs case,” the company he said In the post of March 3. “This is a huge win for the NFTS and all creators pushing our ecosystem forward. NFT are not securities. “

Bloomberg informed for the first time in October 2022 that SEC opened a Yuga laboratories probe to determine if some NFT were more like customary supplies, and therefore securities in accordance with US law.

The regulator probe began under the former chairman of Gary Gensler and was part of the wider investigation in the NFTS – which included probes for NFT creators and markets – to check if some, such as Fractional NFT, were securities.

Yuga Labs was for one of the most popular and pricey NFT collections, when the market was at the top, including the bored Yacht Club of the Monkey and Mutant Appee Yacht Club. He also bought the rights to Cryptopunknas, an early NFT collection, which historically brought huge sums.

The reported abandoned investment of SEC in Yuga Labs appears when the regulator soothes its approach to the cryptocurrency industry under the Trump administration.

Related: US cryptographic reserve without a substitute for the clarity of SEC – Exec Execor

At the end of last month, NFT Marketplace Opensea said that SEC was closed the investigation in the platform, which took place only a few hours after the regulator also rejected the lawsuit against Crypto Exchange Coinbase.

SEC rejected other activities related to the cryptographic enforcement of the law, which he began under the former chairman Gensler, also abandoning many years of lawsuit against Crypto Exchange Kraken on March 3.

Cointelegraph contacted SEC and Yuga Labs for a comment.

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