The NFT project CyberKongz announced that the SEC has concluded its investigation into it

2025-04-16 08:07:55

Collection

ChainCatcher news, according to The Block, the NFT collection project CyberKongz announced that the U.S. Securities and Exchange Commission (SEC) has concluded its investigation. This is the latest investigation of such projects concluded by the SEC since President Donald Trump took office earlier this year. On Tuesday, CyberKongz confirmed in a post on the X platform that the SEC's investigation has officially ended and revealed that it will launch a "rebranding" plan. "The shackles are off for CyberKongz," the company stated, "We have been preparing for this for a long time. Soon, we will announce a comprehensive rebranding plan and new development direction."

Last December, CyberKongz received a Wells Notice from the SEC, which is a formal warning issued to relevant companies before the SEC may take enforcement action. CyberKongz revealed that they have been under immense pressure since they first received inquiries from the SEC two years ago. The project team stated that the SEC's enforcement team raised "a very concerning argument that tokens (ERC-20) cannot be used in conjunction with blockchain games without being registered as securities."

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NFT project CyberKongz SEC

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