The SEC closes its investigation into Yuga Labs
The SEC has finished its investigation into Yuga Labs. This investigation looked into whether the company’s Bored Ape Yacht Club (BAYC) NFTs and ApeCoin broke federal securities laws. The probe began in October 2022. It aimed to find out if Yuga Labs’ NFTs and ApeCoin should be considered securities under U.S. law. The SEC used the Howey Test for this. The Howey Test comes from a Supreme Court case from