Petitioner asks SEC to clarify when NFTs are securities, recommends NFT rulemaking

Like initial coin offerings (ICOs) before them, non-fungible tokens (NFTs) have grown in popularity very quickly, and Arkonis Capital believes it is now time for the SEC to step in and provide guidance on whether NFTs are securities. In a rulemaking petition, Arkonis said that a concept release on how to regulate NFTs is a meaningful first step in providing guidance, but that it would only prove beneficial if it is followed by an SEC rulemaking on the regulation of NFTs.

Source: Jim Hamilton’s World of Securities Regulation: Petitioner asks SEC to clarify when NFTs are securities, recommends NFT rulemaking