CryptoBlog n.2278
🖼 Flyfish Club Fined $750K by SEC for Selling NFT Securities The U.S. Securities and Exchange Commission (SEC) has fined Flyfish Club, a restaurant project, with a hefty $750,000 settlement for allegedly selling unregistered crypto asset securities. According to a cease and desist order issued on September 16, Flyfish Club sold 1,600 NFTs to U.S. investors, making $14.8 million. The SEC claims these NFTs, which were meant to provide access to a yet-to-be-built Manhattan restaurant, were essentially securities and thus needed to be registered.