SEC’s NFT Regulations Need Clarity and Guidance Provisions, Say Regulatory Attorneys

The U.S. Securities and Exchange Commission’s recent enforcement actions against cryptocurrency firms highlight the need for the SEC to provide more precise guidelines on digital-asset regulations and raise questions about the agency’s jurisdictional reach concerning non-fungible tokens, regulatory attorneys said. 

The SEC this year year settled claims against Impact Theory LLC that it raised nearly $30 million through unregistered crypto asset securities. The agency also settled allegations that Stoner Cat 2 LLC conducted an unregistered offering of crypto asset securities in the form of NFTs.