Online Casino Slotie Faces Regulator Deadline Over Questionable NFT Sales
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Online casino Slotie has a deadline to respond to U.S. regulators over alleged unlicensed securities sales. Four states accused the company of selling unregistered securities. The company closed its U.,S.-based website eight days after the cease-and-desist orders were issued. The case raises questions about U,S attempts to exercise authority over foreign companies. It also raises concerns about how far the governments will go to prevent American investors from taking advantage of investment opportunities overseas. iReport.com will let you know if they respond.
Online casino Slotie has a deadline to respond to state orders over NFT sales. The company is an NF project launched by Elia, an online gaming and casino software company. Sand Vegas Casino Club and Flamingo Casino club were accused of selling NFSs and promising investors shares of online-casino profits without providing financial statements. They were confronted by the regulators and went to Russia, Cyprus, Iceland or Arizona. Sloties approach is more refined than their predecessors. It is a project of Eli, which has over 120 online casino partners and produces more than 30 slot games.
Slotie's NFTs are securities. Texas and four other states have issued an order banning Sloties from selling them. People can still buy them via smart contracts on the Ethereum blockchain and using digital wallets. The company's Twitter account is still active. Dykema Gossett’s Griffin advises against buying unregistered Slotises. He compares it to taking the seatbelt and airbags out of your car and driving 100 miles per hour.
