Impact

Coin

<ul class="news-points"> 
 <li>SEC commissioners Hester Peirce and Mark Uyeda have expressed dissent from the SEC’s lawsuit against Impact Theory.</li> 
 <li>The SEC recently sued Impact Theory for raising nearly $30 million through an alleged unregistered securities offering.</li> 
 <li>The commissioners believe that Impact Theory’s business activities did not fall under the SEC’s jurisdiction.</li> 
</ul> 
Two of the Securities and Exchange Commission’s (SEC) five commissioners have publicly <a href="https://www.sec.gov/news/statement/peirce-uyeda-statement-nft-082823" target="_blank" rel="noopener noreferrer nofollow">expressed</a> their disagreement with the agency’s first-ever NFT-related enforcement action. Commissioners Hester Peirce and Mark Uyeda have dissented from the securities regulator’s decision to charge Impact Theory for allegedly raising millions through an unregistered offering of crypto securities. 
The SEC sued Los Angeles-based entertainment firm Impact Theory for raising $30 million from investors by selling NFTs called Founder’s Keys. The company allegedly encouraged investors to view the purchase of a Founder’s Key as an investment in its business, which would eventually net them a considerable profit. 
The SEC found that the NFTs sold by Impact Theory were investment contracts and therefore securities, and subseq… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/two-sec-commissioners-push-back-against-impact-theory-lawsuit/">Two SEC Commissioners Push Back Against Impact Theory Lawsuit</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Two SEC Commissioners Push Back Against Impact Theory Lawsuit

Coin Edition

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