Ashton Kutcher and Mila Kunis got themselves fined by SEC, days after their controversial letter to rapist Danny Masterson. The U.S. Securities and Exchange Commission (SEC) has launched charges against their NFT-based web series, “Stoner Cats,” alleging the sale of unregistered securities.
The SEC's allegations stem from the unique nature of “Stoner Cats.” Many describe it as an adult animated show in which house cats gain sentience after exposure to medical marijuana. This series features A-list celebrities like Jane Fonda, Chris Rock, Seth MacFarlane, and even Ethereum co-founder Vitalik Buterin.
To gain exclusive access to this six-episode animated series featuring, fans have to purchase one of 10,000 NFTs each valued at around $800. Notably, the original NFT owners stood to receive a 2.5% royalty for every NFTs sold.
Now, the SEC classified the Stoner Cats NFTs as unregistered securities. But besides that, SEC also blasted Kutcher and Kunis for their marketing approach.
Kutcher and Kunis' fine includes evidence from a tweet posted on September 7, 2021, by the official @StonerCatsTV account. It suggested that the smartest move during a crypto market dip would be to “Buy more ETH & sweep the Stoner Cats floor.”
Both Kutcher and Kunis paid their fine in a settlement with the SEC. They also established a Fair Fund designed to reimburse individuals financially harmed through the purchase of these NFTs.
The company will also be required to eliminate all NFTs currently within its possession.
Ashton Kutcher and Mila Kunis weren't the only ones who faced fines due to NFTs. Notably, last year, Kim Kardashian reached a settlement with the SEC, amounting to $1.26 million. This is over her failure to disclose her financial incentives for promoting EthereumMax.
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