{"id":577411,"date":"2024-09-17T05:57:32","date_gmt":"2024-09-17T05:57:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=577411"},"modified":"2024-09-17T06:24:14","modified_gmt":"2024-09-17T06:24:14","slug":"sec-fines-flyfish-club-750k-for-selling-unregistered-securities-in-the-nft-market","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sec-fines-flyfish-club-750k-for-selling-unregistered-securities-in-the-nft-market","title":{"rendered":"SEC Fines Flyfish Club $750K For Selling Unregistered Securities In The NFT Market"},"content":{"rendered":"

The United States Securities and Exchange Commission is yet to soften its harsh stance against unregistered securities in the non-fungible token market. In yet another incident, the regulatory commission has fined Flyfish Club, a restaurant based in New York, nearly $1 million for offering unregistered, non-fungible token collections to United States crypto investors.<\/p>\n

Flyfish Fined $750K For Trading Unregistered NFTs<\/h2>\n

In a September 17 site publication<\/a>, the United States Securities and Exchange Commission confirmed that it has settled with Flyfish Club, which it previously accused of selling illegal securities to United States customers. As part of the settlement, Flyfish Club’s non-fungible token project has agreed to pay $750,000.<\/p>\n

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NFT project Flyfish Club reached a settlement with the US SEC for unregistered issuance of crypto asset securities and paid a fine of $750k. Flyfish Club agreed to destroy all NFTs and no longer accept related royalties. The restaurant raised $14.8 million by selling 1,600 NFTs…<\/p>\n

— Wu Blockchain (@WuBlockchain) September 17, 2024<\/a><\/p><\/blockquote>\n