The United States Securities and Exchange Commission (SEC) has implemented its first non-fungible token (NFT) enforcement action against Los Angeles-based firm, Impact Theory. Based on the regulatory agency, Impact Theory sold its NFTs as unregistered securities, a violation of federal law. This action ended in a legal settlement that needs Impact Theory to establish a… Continue reading SEC Implements First Enforcement Action In The NFT Industry
Tag: United States Securities and Exchange Commission (SEC)
BAYC Developer Yuga Labs And Moonpay Face Lawsuit Due To Celebrity NFT Promotions
The class action lawsuit claims that Yuga Labs leveraged a massive network of A-list athlete, celebrity, and musician clients to push the sales of their nonfungible token (NFT) collection. Yuga Labs, the developer of the popular Bored Ape Yacht Club (BAYC) NFTs, together with crypto fintech Moonpay is now facing class action lawsuits over the… Continue reading BAYC Developer Yuga Labs And Moonpay Face Lawsuit Due To Celebrity NFT Promotions
US Senator Lummis Excludes NFTs In Her Crypto Bill As Apecoin Integrates Polygon
On May 3, 2022, Cynthia Lummis, the United States Republican Senate Representative for Wyoming, revealed some of the key constituents of her highly anticipated crypto bill that she is currently preparing. In an exclusive short Livestream hosted by Axios, the Senate Representative for Wyoming spoke about the importance of definition and weeding out nonviable altcoin… Continue reading US Senator Lummis Excludes NFTs In Her Crypto Bill As Apecoin Integrates Polygon
TON Foundation Allocates $250M To Fund DEX And NFT Tools On TON Blockchain
The TON Foundation, an organization focused on building the Telegram-initiated blockchain project, The Open Network, has successfully launched a new ecosystem fund, “TONcoin Fund,” to support its blockchain-based projects. Their official launching came the same day some countries from Western Africa, including Cameroon, the Democratic Republic of Congo, and the Republic of Congo, announced ready… Continue reading TON Foundation Allocates $250M To Fund DEX And NFT Tools On TON Blockchain