Stoner Cats: Another Example of the SEC Targeting NFTs

On Sept. 13, 2023, the U.S. Securities and Exchange Commission settled enforcement proceedings against the maker of the Stoner Cats web series arising from its sale of NFTs, reflecting a significant expansion of the SEC’s crypto enforcement efforts into the NFT space. In this C&G Client Alert, Douglas J Pepe and William E Kalema explore the SEC’s position in this instance and the broader implications of its stepped-up enforcement of crypto assets as securities.