Are NFTs stocks? The U.S. government might think so…

If you have any NFTs, you might wanna see this ๐Ÿ˜… The United States Securities and Exchange Commission is currently investigating whether or not NFTs are securities (a.k.a. kind of like stocks).

Transcript

Yuga Labs, the creators of Bored Ape Yacht Club (BAYC), is being investigated to figure out whether they violated federal law.

The United States Securities and Exchanges Commission (USSEC) is investigating if a few NFTs that were sold are similar to securities.

Securities are something that has monetary value and can be traded, so kind of like a stock. The USSEC is also investigating the currency that Yuga Labs created within the BAYC universe called “Apecoin.”

๐ŸŽง Listen to the full episode here.

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