SEC’s Hester Peirce Blasts Agency’s First NFT Lawsuit, Says Enforcement Action Raises Many Difficult Questions - The Daily Hodl

Two commissioners at the U.S. Securities and Exchange Commission (SEC) are critical of the agency's recent charges against Impact Theory for allegedly offering unregistered securities in the form of NFTs, arguing that the NFTs in question did not function as investment contracts and did not offer dividends to purchasers. The commissioners raise questions about the appropriateness of applying securities laws to NFTs and the implications of requiring the destruction of NFTs representing unique digital art or music.