Artists Take SEC to Court Over NFT Classification

• Artists Brian Frye and Jonathon Mann are suing the SEC to clarify if NFTs need registration before sale and disclosure of potential risks to buyers;
• The lawsuit argues that classifying NFTs as securities is unreasonable and seeks protection from what they view as unjust SEC actions;
• This case follows the SEC’s first NFT-related lawsuit against Impact Theory.

Source: https://www.bitdegree.org/crypto/news/artists-take-sec-to-court-over-nft-classification?utm_source=reddit&utm_medium=social&utm_campaign=r-artists-sec-nft