New Crypto Case from SEC: Celebrity Accuses NFT of Irregular Selling!

SEC, the US financial regulator, has been closely following the recent activity in the cryptocurrency industry. NFTs, which have become one of the popular topics in the crypto world, are also under the supervision of the SEC. In this context, Stoner Cats 2 LLC (SC2), an animated series project, was accused by the American Securities and Exchange Commission (SEC). Here are the details…

Crypto company admits to charges related to NFT sales

As it is known, SC2 organized an NFT sale in July last year to finance the animated series called Stoner Cats. The company earned approximately $8 million in revenue from this sale. However, the SEC now states that this sale was unregistered and violated the Securities Act of 1933.

In its statement, the SEC emphasized that the company was offered to the public through an unregistered offering and therefore violated the law. SC2 remained defenseless against the accusations. The company agreed to pay a $1 million penalty. Additionally, a fund will be created to pay damaged investors.

The SEC states that SC2 company not only made unregistered sales but also made misleading promises to investors. He claims that the company assured its investors that the value of NFTs would increase, and attracted investors with these promises.

The animated series tells the adventures of a group of cats and an old woman, and the series features well-known names. But now, SC2 has agreed to destroy all NFTs in its possession or control and post a notice on its website and social media accounts. cryptokoin.comAs we reported, Stoner Cats NFTs sold out within minutes of their first market launch in July 2021.

Accusations over Stoner Cats sales

As it is known, SC2 sold NFT to finance an animated series called Stoner Cats. This sale brought the company $8 million. However, the SEC stated that the sale was unregistered and violated the Securities Act of 1933.

Accepting the SEC’s latest accusations, SC2 agreed to pay a $1 million penalty. He also announced that a fund would be created for aggrieved investors. This means SC2 admits that he did not act within the law.

The future of the animated series is currently uncertain. SC2 agreeing to destroy all NFTs has caused great uncertainty for investors. The direction in which the project will proceed is a matter of curiosity for now. Investors continue to wait with anxiety due to not being able to access clear information about the future. Meanwhile, SC2 will no longer be a major player in the NFT scene. According to the company’s official statements:

SC2 also agreed to destroy all NFTs in its possession or control and to post notice of the order on its website and social media channels.