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In a recent development, two prominent commissioners at the US Securities and Exchange Commission (SEC), Mark Uyeda and Hester Peirce, have expressed their…
Key Points - On August 28, 2023, the SEC charged Impact Theory, LLC, a media company with an unregistered securities offering through its sale of NFTs. This marks the first time that...
In dissent, Commissioner Peirce said the new rules will harm investors, while Commissioner Uyeda called them ‘arbitrary and capricious.’
The U.S. SEC charged Impact Theory, a Los Angeles-based media and entertainment company, on Monday with offering unregistered securities in the form of NFTs.
Impact Theory agreed to the monetary penalty and to a cease and desist order, without admitting or denying the SEC’s allegations.