SEC Fines Ashton Kutcher and Mila Kunis's Stoner Cats $1 Million for Illegal Crypto NFT Sales
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Ashton Kutcher and Mila Kunis's animated series Stoner Cats fined $1 million by SEC for unregistered crypto asset securities sales.
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Stoner Cats raised $8 million by selling 10,000 NFTs, violating the Securities Act of 1933.
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SEC says Stoner Cats focused on benefits of acquiring NFTs, like rising resale value, misleading investors.
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Stoner Cats agreed to cease-and-desist order, pay $1 million penalty, and destroy all remaining NFTs.
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SEC says registration protects investors by providing information for informed decisions; Stoner Cats ignored responsibilities.