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Impact Theory, a company that produces educational and entertainment content, has agreed to an SEC cease-and-desist order over sales of one of its NFT suites.
The SEC is willing to parse what NFTs are and aren't securities
(Bloomberg) -- Wall Street’s main regulator expanded its crackdown on crypto products Monday by accusing a Los Angeles-based media and entertainment company of offering nonfungible tokens that were really unregistered securities. Most Read from BloombergChina’s Worsening Economic Slowdown Is Rippling Across the Globe3M Agrees to Pay More Than $5.5 Billion Over Combat EarplugsAuto Union Boss Wants 46% Raise, 32-Hour Work Week in ‘War’ Against Detroit CarmakersTraders Have S&P 500 Comebacks Fading
Wall Street’s main regulator expanded its crackdown on crypto products Monday by accusing a Los Angeles-based media and entertainment company of offering nonfungible tokens that were really unregistered securities. The
A Los Angeles media company that billed itself as potentially "the next Disney" will pay $6.1 million to settle U.S. Securities and Exchange Commission charges it illegally raised nearly $30 million by conducting unregistered sales of non-fungible tokens. Monday's settlement with Impact Theory LLC was the SEC's first enforcement action involving NFTs, digital assets that reflect ownership of files such as artwork, images and videos and are recorded on a blockchain. The SEC said Impact Theory mar