According to Odaily, the NFT project CyberKongz has announced on the X platform that it has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). This notice is a formal communication from SEC staff indicating that they may recommend enforcement action against the company. The CyberKongz team expressed their frustration, stating, "Since our first contact with the SEC, we have endured in silence for the past two years. Throughout this process, the SEC has demonstrated a complete lack of understanding of blockchain technology, leading to unjust accusations and inaccurate information."

CyberKongz, which is rooted in the gaming sector, highlighted concerns raised by the SEC's enforcement division. The division suggested that tokens, specifically ERC-20 tokens, must be registered as securities if they are to be integrated with blockchain games. The team believes that this stance could have significant implications for the entire web3 gaming industry. CyberKongz has vowed to oppose this position within the broader industry context, emphasizing the potential impact on innovation and development in the web3 gaming space. The team is committed to advocating for a more informed and fair approach to blockchain technology and its applications in gaming.