NFT project Flyfish Club reached a settlement with the U.S. Securities and Exchange Commission (SEC) for unregistered issuance of crypto asset securities and paid a $750,000 fine. The restaurant raised $14.8 million by selling 1,600 NFTs to finance the construction of its private member restaurant in New York City. The SEC accused Flyfish Club of suggesting to investors that they could profit by reselling NFTs. Flyfish Club agreed to destroy all NFTs and no longer accept related royalties. (TheBlock)