The Inanity of the SEC ‘Stoner Cat’ Action

CoinDesk reported:

Stoner Cats 2, LLC, the organization that created the NFTs and is responsible for paying the SEC fine, will also have to help set up a reimbursement fund to pay back injured investors. This “Fair Fund,” a type of account established under the Sarbanes-Oxley Act of 2002 as a way to return profits from defrauded investors, will technically be operated by the SEC. (It’s important to note Stoner Cats 2, LLC, did not admit fault by settling.)

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