Tuesday, 29 August, 2023

SEC Resolves Landmark NFT Enforcement Case, Imposes $6M Fine on LA Media Firm

In a pioneering move, the U.S. Securities and Exchange Commission (SEC) has reached a settlement in its inaugural enforcement action involving NFTs. A Los Angeles-based media company faces a substantial $6 million penalty for allegedly conducting an unregistered digital securities offering. This significant development underscores regulatory efforts to assert control over the evolving NFT market, setting a precedent for future legal actions in the blockchain and digital asset space.