Crypto Exchange Crypto.com Sues SEC, Chair Gary Gensler After Receiving Wells Notice

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The Wells Notice was sent to Crypto.com on Aug. 22, the filing revealed. The notices are preliminary warnings stating the charges the regulator may bring, and usually lead to enforcement actions. In August, OpenSea received a Wells Notice alleging non-fungible tokens (NFTs) on its platform were securities. OpenSea CEO Devin Finzer said at the time the company was “shocked” but ready to “stand up and fight.” In April, decentralized crypto exchange Uniswap also received one, which it urged the SEC to withdraw.

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