Flyfish Club Settles with SEC for $750K Over Unregistered Crypto Asset Securities

On September 17, COINOTAG reported that the NFT project Flyfish Club consented to a $750,000 settlement with the U.S. Securities and Exchange Commission (SEC). According to a court document, the SEC stated that Flyfish Club “issued crypto asset securities without registration.” The project accumulated $14.8 million by selling 1,600 NFTs to U.S. investors. Additionally, Flyfish indicated to investors that there was potential for profit by reselling these NFTs in the secondary market.