Impact Theory Fined $5 Million by SEC Over Unregistered NFT Offerings!
The post Impact Theory Fined $5 Million by SEC Over Unregistered NFT Offerings! appeared first on Coinpedia Fintech News
The SEC has charged LA-based Impact Theory with unregistered offerings of non-fungible tokens as investment opportunities without proper registration. The company reportedly violated securities laws by raising $13 million through sales of NFTs without providing required disclosures or registration. Impact Theory has settled the case and agreed to pay a $5m penalty without admitting or denying the allegations. This is the latest SEC action against companies that sell digital assets without complying with federal securities laws.