ChainCatcher reported that according to The Block, the NFT project Flyfish Club agreed to pay $750,000 as part of its settlement with the U.S. Securities and Exchange Commission (SEC).

The SEC said in a court filing on Monday that Flyfish "issued crypto asset securities without registration." The project earned $14.8 million by selling 1,600 NFTs to U.S. investors. Flyfish also told investors that they could make a profit by reselling these NFTs in the secondary market.