Let’s assume that Impact Theory’s NFTs aren’t the only ones that might be unregistered securities under the Howey test. What corrective action will the NFT companies face if they face an enforcement action or lawsuit in which it is found the NFTs are unregisered securities?
Rescission offer: Well, the SEC says on its website that companies violating the registration requirement for securities might have to refund the monies to their investors, plus interest, in what’s called a rescission offer.
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