Odaily Planet Daily News: Hester Peirce, a member of the U.S. Securities and Exchange Commission (SEC), made it clear in a public speech that NFTs with a creator royalty mechanism generally do not fall into the category of securities. Peirce pointed out that the feature of NFTs that allows artists to profit from resales is similar to the model in which streaming platforms pay creators for copyrights, and this distribution of revenue does not constitute the "corporate profit-sharing right" in the traditional definition of securities. Oscar Franklin Tan, chief legal officer of Atlas Development Services, added that some media have misinterpreted Peirce's statement, emphasizing that the SEC has never regarded creator royalties as securities regulatory objects. He explained that when royalties belong only to the original creator, their nature is closer to "business income" rather than "investment income"; but if the NFT design involves distributing royalty profits to multiple holders, it may trigger securities compliance issues. (Cointelegraph)