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The SEC has charged an NFT project for the unregistered offering of NFTs.
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This step by the U.S. government agency has raised many questions related to NFT-related investment.
The U.S. government agency, the Securities and Exchange Commission (SEC), once again showed its potential power. The agency charged Impact Theory, a media and entertainment company, on August 28, 2023, over unregistered NFT offerings.
As mentioned in the SEC’s press release, the company was “conducting an unregistered offering of crypto asset securities in the form of purported non-fungible tokens (NFTs).”
It must also be noted that Impact Theory has raised nearly $30 Million from hundreds of investors through offerings. Meanwhile, the investors are included across the United States.
Highlights of SEC Order for NFT Project
As noted in the SEC’s order, Impact Theory has offered and sold 3 tiers of NFTs known as Founder’s Keys from October to December 2021. On the other
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