PANews reported on April 10 that according to Decrypt, the NFT market platform OpenSea sent a letter to the U.S. Securities and Exchange Commission (SEC), calling for clarification that NFT platforms should not be considered securities exchanges or brokers. The SEC had previously terminated its investigation into OpenSea's suspected violation of securities laws in February. OpenSea emphasized that it does not match transactions or custody assets, but only provides a discovery and connection platform for buyers and sellers. Classification as a securities platform would be "regulatory overreach." The letter also requested the SEC to exempt NFT platforms from the proposed broker rules.