CyberKongz, a game-based NFT project, has just received a "love letter" from the US SEC. 🎉 Yes, they received a Wells Notice, which surprised them like an unexpected birthday present!
- The problem? The integration of their ERC-20 token into a blockchain game. The SEC is wondering if this could be a security. Hmm, who would have thought that tokens could be curious?
- CyberKongz said, "We will fight for a clearer future for NFT projects!" They are ready to fight and hope to make regulations clearer.
- There is also the matter of the Genesis Kongz contract migration in 2021. The SEC thought it was a token sale, but it wasn't. Oh, SEC, let's learn to differentiate!
- This is not the first time the SEC has "teased" blockchain projects. Coinbase, Ripple, and others have also been hit.
What do you think? Let's discuss in the comments column!