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The United States Securities and Exchange Commission (SEC) charging nonfungible token (NFT) project Stoner Cats sparked feedback from commissioners Hester Peirce and Mark Uyeda, arguing that the project’s activity constitutes fan crowdfunding, which they believe is common for artists. On Sept. 13, the SEC charged Stoner Cats 2 LLC, the firm
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The SEC said Stoner Cats violated the Securities Act of 1933 by selling NFTs that qualify as investment contracts. Stoner Cats has agreed to a refund. The United States Securities and Exchange Commission (SEC) continues its widespread crackdown by going after “Stoner Cats”, an NFT-based web series from Hollywood couple Ashton
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The Securities and Exchange Commission (SEC) now claims actress Mila Kunis’ “Stoner Cats” raised $8 million from selling unregistered securities in more than one US state. In a press release on Sep. 13, the SEC said Stoner Cats 2 LLC (SC2) sold 10,000 non-fungible tokens (NFTs) in 35 minutes and raised
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In a recent move that intensifies the Securities and Exchange Commission’s (SEC) crackdown on the Non-Fungible Token (NFT) sector, the SEC has
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According to the SEC, Stoner Cats NFT holders were incentivized to trade the NFTs, receiving a 2.5% royalty for each secondary-market transaction involving the collectibles. That encouraged individuals to buy and sell the NFTs in at least 10,000 secondary transactions worth more than $20 million, according to regulators. In addition,
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Stoner Cats 2 LLC (SC2), the company behind the Stoner Cats animated series, has agreed to a cease-and-desist order and other measures imposed by the United States Securities and Exchange Commission (SEC) after being charged with conducting an unregistered offering of crypto asset securities in the form of nonfungible
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