Key dealers
- SEC has completed its investigation of Yuga Labs and confirms that Bayc NFT and Apecoin are not securities.
- Despite the investigation’s closure, Apecoin’s price showed no significant change over the past 24 hours.
SEC has completed its investigation of Yuga Labs and completed a probe that investigated whether the company’s bored Ape Yacht Club (Bayc) NFT and Apecoin violated federal securities laws.
After 3+ years, SEC has officially completed its investigation of Yuga Labs.
This is a huge gain for NFT and all creators who drive our ecosystem forward. NFT is not securities.
– Yuga Labs (@yugalabs) March 3, 2025
The survey, which did headlines in October 2022, focused on Yuga Lab’s NFT offers and Apecoin distribution.
SEC tried to determine whether these digital assets would be classified as securities under the US law with the help of the Howey test, a legal framework from a 1946 Supreme Court case.
Yuga Labs, founded in 2021, reached a $ 4 billion valuation after collecting $ 450 million in funding in 2022.
The company’s BayC collection has generated billions in trade volume, making it a prominent player in the NFT space.
Apecoin, which is down by 16% over the past 24 hours according to the Cooiestecko data, showed no immediate price reaction to the investigation’s closure.
