Magic Eden CEO: Welcomes regulation, as unclear regulation is basically inevitable

ChainCatcher news, last month OpenSea received a Wells notice from the SEC. Although the regulatory agency has previously taken enforcement actions against NFT projects, the disclosure regarding OpenSea indicates that the SEC has begun to scrutinize entities that provide trading platforms for NFTs, rather than just the entities that initially offered these platforms.

Magic Eden has not yet become a target of the SEC's attention, but its CEO Lu acknowledged that the lawsuit against OpenSea could have widespread implications for the cryptocurrency space, which has been relatively untouched by regulators compared to exchanges or cryptocurrency issuers. "Regulatory ambiguity is basically inevitable," Lu stated. "If this incident can make the space clearer, I welcome that."