KEY POINTS
- Frye and Mann filed the complaint to ask whether the SEC should regulate 'art'
- They accused the SEC of waging a 'campaign to assert jurisdiction over sales of digital art'
- Several industry figures have expressed support for Frye and Mann's legal battle
Two nonfungible token (NFT) artists have filed a complaint against the U.S. Securities and Exchange Commission (SEC), asking the court to provide clarity about whether NFTs fall under the jurisdiction of Wall Street's largest regulator.
