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What strategy will CyberKongz adopt in response to SEC actions by mid-2025?
2
Resolution / Starting Odds
Legal challenge • 25%
Compliance adjustments • 25%
Token discontinuation • 25%
Other strategies • 25%
CyberKongz official announcements and strategic updates
Story
CyberKongz Receives SEC Wells Notice Over Unregistered Securities Offerings After Two Years of Investigation
Dec 16, 2024, 08:42 PM
CyberKongz, a prominent NFT project, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), indicating potential violations related to unregistered securities offerings. The project expressed disappointment with the SEC's approach, emphasizing its commitment to advocating for clearer regulations in the NFT space. According to CyberKongz, the SEC's Division of Enforcement has raised concerns about the legality of having a token associated with a blockchain game without registering it as a security. The project revealed that it had been under investigation by the SEC for the past two years. This action follows similar scrutiny faced by other NFT platforms, raising questions about regulatory practices affecting the broader cryptocurrency and NFT markets.
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Cease certain services • 25%
Increase compliance measures • 25%
No significant change • 25%
Relocate operations • 25%
Other • 25%
Restructure business model • 25%
Cease operations • 25%
Continue as is • 25%
Expansion in other areas • 25%
Withdrawal from certain markets • 25%
No significant changes • 25%
Increased compliance measures • 25%
Cost-cutting measures • 25%
Focus on new markets • 25%
Increased compliance measures • 25%
No significant changes • 25%
Other • 25%
Accounting standards • 25%
Enforcement actions • 25%
Token classification • 25%
Reduction in enforcement actions • 25%
Clear registration guidelines • 25%
Other • 25%
Enhanced investor protections • 25%
Other • 25%
Taxation guidelines • 25%
Enforcement reduction • 25%
Registration guidelines • 25%
Other related company • 25%
Genesis Global Capital • 25%
Digital Currency Group • 25%
Three Arrows Capital • 25%
No response • 25%
Neutral stance • 25%
Oppose and lobby against • 25%
Support and implement changes • 25%
Coinbase • 25%
Binance • 25%
Kraken • 25%
Other • 25%
No response • 25%
Adopt new guidelines • 25%
Appeal rulings • 25%
Settle with affected companies • 25%
New crypto-specific rules • 25%
Increased enforcement actions • 25%
Clarification of existing rules • 25%
No significant actions • 25%