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Mila Kunis and Ashton Kutcher’s Stoner Cats NFTs must sober up, SEC orders

Mila Kunis and Ashton Kutcher attend the 9th Annual Breakthrough Prize Ceremony at Academy Museum of Motion Pictures on April 15, 2023 in Los Angeles, California.
Ashton Kutcher and Mila Kunis promoted the Stoner Cats NFTs. | Photo by Axelle / Bauer-Griffin / FilmMagic

The Stoner Cats NFTs, associated with a cartoon including the voice talent of Mila Kunis and Ashton Kutcher, were actually unregistered securities, the Securities and Exchange Commission said today. The company behind the NFTs, called Stoner Cats 2, paid $1 million in fines and agreed to destroy all of the NFTs in its possession without admitting guilt.

This is the second action the SEC has taken against NFTs, and unlike the last one, it may have broad consequences for the industry. Between the two cases, the SEC is “drawing a picture where all NFTs are within their jurisdiction,” says Hermine Wong, the former head of policy at Coinbase and a former SEC regulator. The order is likely to have a chilling effect on the industry, she says.

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