Article11 months ago

Impact Theory Charged by SEC for Unregistered Offering of NFT Securities

Impact Theory Charged by SEC for Unregistered Offering of NFT Securities
Summary
  • Impact Theory, LLC has been charged by the SEC for conducting an unregistered offering of NFT securities.
  • The company raised around $30 million from investors through this offering.
  • The SEC found that the NFTs offered by Impact Theory were investment contracts and classified as securities.
  • Impact Theory violated federal securities laws by offering and selling these NFT securities without registering the offering or qualifying for an exemption.
  • As part of the settlement, Impact Theory will pay over $6.1 million in disgorgement, prejudgment interest, and civil penalties and will establish a Fair Fund to return the money to harmed investors.

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