OpenSea pushes for separate rules for NFT platforms.

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OpenSea, the leading NFT marketplace, is urging the U.S. Securities and Exchange Commission (SEC) not to classify NFT platforms under federal securities laws. The company argues that NFTs are digital collectibles, not investment contracts, and regulating them like traditional securities could hurt innovation in the Web3 space. OpenSea believes NFT marketplaces should be treated differently from stock exchanges and wants clear, tailored rules to support responsible growth without stifling creativity or technology in the NFT sector.