Catenaa, Saturday, April 19, 2025-CyberKongz, a prominent non-fungible token (NFT) project, announced Tuesday that the US Securities and Exchange Commission has ended its investigation into the firm, clearing a path for a major rebrand and renewed direction.
The company made the announcement in a post on X, stating, “The shackles are lifted.” CyberKongz said it had long prepared for the outcome and promised further details on its rebrand in the near future.
The SEC launched its inquiry into CyberKongz nearly two years ago, initially issuing a Wells Notice — a formal indication that enforcement action could be recommended. The case centered on concerns that pairing an ERC-20 token with a blockchain-based game could constitute offering a security, according to CyberKongz.
The SEC declined to comment on the closure of the probe.
CyberKongz joins a growing list of crypto firms no longer facing regulatory action under the current administration. Since President Donald Trump returned to office, the SEC has dropped cases or paused investigations into several major players, including Coinbase, Kraken, OpenSea, Consensys and Uniswap.
The shift marks a significant departure from the stance taken under former Chair Gary Gensler, who aggressively pursued enforcement against crypto-related firms and broadly classified many tokens as unregistered securities.
The SEC has since established a dedicated crypto task force, which held its second industry roundtable last week to explore updated regulatory frameworks.
NFTs, once a key focus for enforcement, have seen eased scrutiny. Projects like Impact Theory and Stoner Cats previously faced charges, while marketplaces like OpenSea now seek clearer regulatory guidance.
