SEC archive research against NFT Cyberkongz project

Cyberkongz confirms that the Sec He has closed his investigation against him. The measure is part of a change in the agency’s perspective towards the cryptocurrency sector.

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• Cyberkongz He had received a warning of possible legal action in December 2024.
  
• The firm criticized the position of the Sec about tokens and games Blockchain.
• The measure can be a remarkable precedent other cases in the space of the NFT.

Cyberkongz, project responsible for a collection of digital collectibles (NFT) of the same name, he informed that the US stock and securities commission (sec) He officially closed the investigation against him, in which alleged violations of the securities laws were alleged.

Closed the investigation against Cyberkongz

The announcement in question came to place in a message posted by the team of Cyberkongz In their official X account, where they indicate that they are free from said investigation “After years of litigation, unfair allegations, high fees payments and other obstacle classes”.

“This is a moment of great pride for Cyberkongz. We are a small, passionate and creative web team that decided The team indicated.

The sec you have officially closed its investigation into cyberkongz.

After Years of Litigation, Unjust Allegations, Legal crypting Fees, and The Biggest Hurdle We Coul Possibly Encounter – We Are Free.

This is an extremely proud moment for cyberkongz. We are a Small, passionate, … pic.twitter.com/ku1qonp4wn

– Cyberkongz (@Cyberkongz) April 15, 2025

As such, at the end of last year, Cyberkongz had publicly revealed that he had received a “Wells notice” by the Sec, measure that is used to indicate that the agency has opened an investigation to consider that a violation of the securities laws is being perpetrated. In this case, aiming that the collectibles marketed by the project would appear as unregistered values.

Cyberkongz He affirmed that the investigation had generated two years of pressures and forced silence, despite the fact that the controversy had never been made public until that moment, since the dispute with the Sec He went back much further back. The team accused the agency to hold a position “Very worrying”especially in relation to the use of tokens ERC-20 Integrated to games Blockchain.

According to the firm, the prosecutors of the Sec They argued that the combination of a token with a video game could automatically constitute an unregistered offer of values, which placed multiple web projects in an ambiguous legal position.

Change of course in the SEC after the arrival of Trump

The case of Cyberkongz adds to a series of investigations closed by the Sec In recent months, coinciding with the beginning of the new US government, led by President Donald Trump.

Since the beginning of this year, the agency has suspended procedures or closed investigations against several important names of the crypto ecosystem, including Coinbase, opensa, kraken, consensys and unisswap, inter alia.

Under the previous mandate, chaired by Gary Gensler, the Sec He had adopted an openly critical posture towards cryptocurrencies, qualifying most tokens as values ​​and issuing multiple demands against key industry actors.

In contrast, the new administration seems to have moderated that approach, prioritizing dialogue with companies in the sector and more collaborative regulatory reviews. Proof of this is the creation of a crypto working group within the Sec, which celebrated its second round table last week.

The legal status of the NFT is still unresolved

Although the case of Cyberkongz It has closed, the NFT They are still in a legal limbo within the US financial system. In recent years, the Sec has initiated actions against projects such as Impact Theory and Stoner Cats 2 LLCaccusing them of making securities offers without registration through the sale of non -fungible tokens.

For its part, Opensa, the largest market of NFTS, has intensified its pressure on the Sec so that this publicly clarifies that digital collectible marketplaces should not be regulated as stock markets or intermediaries.

The outcome of the case Cyberkongz It could serve as a precedent for other web3 projects that seek regulatory clarity and greater margin to innovate without fear of sanctions.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

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