Impact Theory settles with SEC over NFT enforcement action
Impact Theory agreed to a cease-and-desist order and was ordered to pay more than $6.1 million in disgorgement, prejudgment interest, and a civil penalty.
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Impact Theory charged over $30M ICO in SEC’s first-ever NFT securities lawsuit
The NFTs that the Los Angeles-based entertainment firm sold in 2021 were securities as the investors expected profits from the actions of the company’s founders, according to the U.S. securities regulator.