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