US SEC Sues NFT Project for Selling Unregistered Securities, Impact Theory to Pay $6.1 Million in Penalties

2023/08/29 04:06

The U.S. Securities and Exchange Commission has taken legal action against a non-fungible token (NFT) project for selling unregistered NFTs. Impact Theory, a media company based in Los Angeles, marketed their Founder's Key NFT project as an investment opportunity, which the SEC deemed as the offering of "securities."
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