Securities regulators alleged that Slotie had illegally and fraudulently sold NFTs.
The move comes as US states join forces to fight crypto crimes.
Securities Regulators Take Action
According to the press release, Alabama, Kentucky and Texas authorities have ordered a cease-and-desist against Slotie NFT on the grounds of illegal and fraudulent sales of NFTs.
Slotie was accused of diverting proceeds from NFT sales to metaverse casinos.
According to the regulators’ claim, the company has issued 10,000 Slotie NFTs that allow investors to earn ownership rights in casinos and passive income from activities.
In addition, it was alleged that Slotie was selling unregistered securities.
The coordinated filings are the latest in an effort by state regulators to come together to tackle metaverse crimes. Last May, the state’s authorities took action to stop a similar initiative supported by the Flamingo Casino Club and Sand Vegas Casino Club.
