The United States Securities and Exchange Commission (SEC) charged the creators of the project Stoner Cats with selling unregistered securities around the launch of NFTs in 2021.
Stoner Cats 2 LLC, the company behind the NFT-based cartoon project, agreed to a cease-and-desist order and will pay a $1 million civil penalty without admitting fault. The company will also destroy any NFTs that it still holds, and establish a “Fair Fund” to refund investors who purchased the NFTs in the primary sale.
Stoner Cats was created by Orchard Farm Productions, the production studio of actress Mila Kunis, who also voiced one of the feline characters in the cartoon series. The show also features the voices of Kunis’ husband Ashton Kutcher, along with Chris Rock, Ethereum creator Vitalik Buterin, and others.
This story is breaking and will be updated with additional information.