The 94th Oscars were meant to be a celebration of the many individuals in our community who did incredible work this past year; however, those moments were overshadowed by the unacceptable and harmful behavior we saw Mr. Smith exhibit on stage.

Axar.az reports that the academy said in a statement.

“I accept and respect the Academy’s decision,” Smith said in response. He pre-emptively resigned from the academy last week during the run-up to the meeting, calling his actions "shocking, painful, and inexcusable.”
Smith will keep the Oscar he won after the slap, and he will remain eligible to be nominated for and to win more of them in the 10-year period, though he can’t show up to accept them.

The academy also apologized for its handling of the situation and allowing Smith to stay and accept his best actor award for “King Richard.”