Hollywood couple Ashton Kutcher and Mila Kunis’ adult animated series Stoner Cats has been fined $1 million by the Securities and Exchange Commission (SEC) over the methods used to raise money for the project.
According to the SEC, the series was funded with $8 million made from selling more than 10,000 non-fungible tokens (NFTs). However, the SEC has fined those behind the show for “conducting an unregistered offering of crypto asset securities.”
Stoner Cats features Kutcher and Kunis alongside a host of stars—including veteran actor Jane Fonda, comedian Chris Rock and musician Michael Bublé—and tells the story of a group of cats who become sentient after being exposed to their owner’s medical marijuana. The cats’ owner has Alzheimer’s disease.
In a plot twist worthy of its own screen time, the SEC announced in a press release this week that the team behind the series violated the Securities Act of 1933 “by offering and selling these crypto asset securities to the public in an unregistered offering that was not exempt from registration.”
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