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Unregistered NFT Offerings ❎

The SEC is squaring up on NFTs!
Unregistered NFT Offerings ❎
William M. Peaster William M. Peaster
Aug 29, 2023 • 4 min read
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Dear Bankless Nation,

The Securities and Exchange Commission (SEC) just undertook an enforcement action against the Founder’s Key collection.

The project, led by Tom Bilyeu and the Impact Theory team, was marketed boisterously in the way many NFT projects were, leading to uncertainty about which dominos will fall next here in the NFT space.

For today’s post, we'll dissect what Impact Theory did wrong according to the SEC, the Commission’s troubling focus on NFT royalties, and why the dissenting opinion of Commissioner Hester Peirce, a.k.a. "Crypto Mom," should have us all concerned.

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Unregistered NFT Offerings ❎
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William M. Peaster

Written by William M. Peaster

893 Articles • View all      

William M. Peaster, Senior Writer, has been with Bankless since January 2021. Immersed in Ethereum since 2017, he writes the Metaversal newsletter on the onchain frontier, covering everything from AI projects to crypto games, as the team’s lead NFT analyst. With a background in creative writing, he writes fiction and publishes art on Ethereum in his free time.

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