Los Angeles-based media and entertainment company Impact Theory was penalised by the US SEC today for selling unregistered securities.
The SEC has classified Impact Theory's NFTs as unregistered securities.
Instead of appealing against the fine, Impact Theory chose to settle it for more than $6.1 million. Impact Theory has additionally committed to destroy the NFTs and return the investors' money.
The SEC has classified Impact Theory's NFTs as unregistered securities.
Instead of appealing against the fine, Impact Theory chose to settle it for more than $6.1 million. Impact Theory has additionally committed to destroy the NFTs and return the investors' money.