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.
2/2 … Social media influencers are often paid promoters, not investment professionals, and the securities they’re touting, regardless of whether they are issued using traditional certificates or on the blockchain, could be frauds.” https://t.co/WzgvPU7Esg
— SEC Enforcement (@SEC_Enforcement) November 30, 2018
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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