SEC Is Going to Fine Social Media Celebrities Who Promote Scam ICOs

The new wave of cryptocurrency and ICO coming from the Securities and Exchange Commission regulation has influenced Hollywood celebrities, sports stars and now social media influencers.

SEC chairmanship claims that any content creator, Youtuber, blogger, ad platform etc. that is paid for endorsing a fraudulent ICO project or startup, or hiding some important details about this project, could be persecuted by the Commission.

The Securities and Exchange Commission came out with a press release, where it recommends the investors to be “skeptical of investment advice posted to social media platforms” and warns them to be careful when choosing the project to invest in.

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