SEC categorizes some NFTs as unregistered security tokens

SEC categorizes some NFTs as unregistered security tokens

As we reported in a previous news story, the US Securities and Exchange Commission (SEC) has exercised its regulatory authority to issue its first enforcement action regarding non-fungible tokens (NFTs), charging one collection in particular for selling unregistered security tokens. 
The case involves Los Angeles-based Impact Theory, which the agency says conducted illegal offerings of unregistered securities through the sale of NFTs. 
This move marks a significant step by the SEC in the NFT landscape, shedding light on the regulatory framework surrounding these unique digital assets.
Impact Theory’s NFT offering under scrutiny by SEC: collection was sold as unregistered security tokens
Impact Theory, a California-based media company, found itself at the center of this historic enforcement action. The company managed to generate nearly $30 million by selling three different levels of NFT offerings. 
However, the SEC investigation concluded that these NFTs were essentially securit

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