The U.S. Securities and Exchange Commission takes unprecedented legal action against an NFT project, "Impact Theory", sparking internal disputes and concerns for the broader NFT market. Dive in to understand the ramifications and the SEC's stance on this evolving digital asset class. The SEC Questions the Way NFTs Were Sold to Investors On August 28, 2023, the U.S. Securities and Exchange Commission (SEC) announced that they have charged Los Angeles-based media and entertainment company "Impact Theory" for selling an unregistered security called "Founder's Keys" as an NFT. While the SEC has previously charged various cryptocurrency-related companies, this marks the first ...