The US Securities and Exchange Commission (SEC) has ended its 3-year investigation into Yuga Labs, the company behind Bored Ape Yacht Club (BAYC) NFTs.
The investigation sought to determine whether Yuga Labs' NFTs and ApeCoin token should be classified as securities.
Yuga Labs maintained that NFTs are not securities and announced the SEC's decision to close the case, considering it a win for NFTs and creators.
The NFT community responded positively, but it remains to be seen how this decision will impact future regulation of NFTs.