Stoner Cats NFTs 'fan crowdfunding' not securities: SEC's Peirce, Uyeda

America Securities and Trade Fee (SEC) charging nonfungible token (NFT) mission Stoner Cats sparked suggestions from commissioners Hester Peirce and Mark Uyeda, arguing that the mission’s exercise constitutes fan crowdfunding, which they consider is widespread for artists.

On Sept. 13, the SEC charged Stoner Cats 2 LLC, the agency behind the animated collection dubbed “Stoner Cats,” with conducting an unregistered crypto-securities providing utilizing NFTs. Stoner Cats 2 LLC agreed to a cease-and-desist order and different imposed measures by the fee.

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