<ul><li>OpenSea, the leading NFT marketplace, has requested the SEC to clarify that NFT marketplaces should not be regulated as exchanges or brokers.</li><li>OpenSea argues that it does not meet the legal definition of an exchange as it doesn't execute transactions or act as an intermediary.</li><li>This request follows the SEC dropping its investigation into OpenSea in February 2025 and is part of a broader policy shift towards a more crypto-friendly approach.</li><li>NFT markets have been struggling, with trading volumes down 19% in 2024 compared to the previous year.</li></ul>

OpenSea Requests SEC Exemption for NFT Marketplaces from Exchange Regulations

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