US SEC unveils plan to compensate investors of Mila Kunis-backed Stoner Cats NFTs

the U.S. Securities and Exchange Commission (SEC) has announced a proposed plan to distribute funds collected from Stoner Cats 2 LLC, which was proposed after taking enforcement action against securities violations. In a court filing submitted on Wednesday, the SEC detailed the company's unregistered sale of NFTs. Stoner Cats 2 LLC is the behind-the-scenes company of the NFT-funded web animated series "Stoner Cats," which received strong support from actress Mila Kunis. The web animation features voice acting by Kunis, Ashton Kutcher, and Chris Rock. The company sold 10,320 NFTs to the public at a price of $800 each, generating a total revenue of $8.2 million. The SEC determined that the product constituted the sale of encrypted asset securities, violating Sections 5(a) and 5(c) of the Securities Act of 1933. The company was fined $1 million and a fair fund was established to compensate affected investors.