🚨 Crypto News Flash! 🚨

Law professor Brian Frye and songwriter Jonathon Mann have filed a lawsuit against the SEC, arguing that the agency's regulation of NFTs threatens artists' livelihoods. They seek clarity on whether NFTs fall under SEC jurisdiction and what actions might trigger securities laws.

🔍 Key Points:

- The SEC's first NFT lawsuit in 2023 targeted Impact Theory, accusing them of unregistered securities offerings.

- NFT market interest is declining, with sales hitting a new low of $395.5M in July 2024.

What do you think? Should NFTs be regulated as securities? Share your thoughts below! 👇