Not Yet Kapok, This Time The SEC Demands Media Impact Theory Companies For Unregistered NFT Sales

US Securities and Exchange Commission (SEC) regulator Sues company Impact Theory for NFT sales. (Photo; Doc. NFT Now)

JAKARTA - The US Securities and Exchange Commission (SEC) has filed a lawsuit against the well-known media company Impact Theory for alleged violations related to the sale of NFT tokens that were not registered as securities.

In its official announcement, the SEC revealed that it had indicted Impact Theory, an entertainment company based in Los Angeles, by offering unregistered asset securities in the form of NFT (Non-Fungible Token). In this case, Impact Theory managed to raise around 30 million US dollars (Rp457 billion) from hundreds of investors, including those from the United States.

In his explanation, the SEC revealed that Impact Theory directed its followers to purchase the NFT collection "Founder's Keys" with the claim that this is a potential investment that will grow bigger like "The next Disney." The SEC confirmed that the sale of this NFT and the like is actually an investment contract and is therefore considered a securities offering.

Antonia Apps, Director of the New York SEC Regional Office, highlighted the importance of registration in securities offers. He explained that the existence of securities laws ensures strong protection for investors through comprehensive disclosure and other protections.

As a result of this demand, Impact Theory has agreed to stop the sale of NFT, remove all "The Founder's Key," and pay more than 6.1 million US dollars (Rp93 billion) as a form of cost and fines.

Although this entertainment company has yet to provide recognition or rejection of allegations made by the SEC, these measures demonstrate the seriousness of Impact Theory in complying with orders given by regulatory authorities.