[ad_1]
Washington, United States –
US securities regulators fined boxer on Thursday Floyd Mayweather and the music promoter DJ Khaled with hundreds of thousands of dollars to promote investment in cryptocurrencies without informing them that they charged to do it.
The Securities and Exchange Commission (SEC) said the two cases were the first to violate the promotion of cryptocurrencies.
The two men publicly promoted the Initial Currency Offers (OICs), in which investors exchange cash or other digital currencies for foreign exchange. cryptocurrency units Still to be launched, without revealing that issuers, including Centra Tech Inc., had paid for it, according to the SEC.
The co-founders of Centra Tech In May, they were charged with fraud by the federal government. According to SEC, Mayweather and Khaled They used social networks to promote the value of the ICO.
Khaled called it a "turning point", while Mayweather He told Twitter users: "Get yours before they run out, I have mine." The accused have neither admitted nor denied the SEC's allegations.
Stephanie Avakian, co-head of the SEC's compliance division, said in a statement that the agreements underlined the need for full disclosure to investors.
"Without information about payments, promotions ICO of Mayweather and Khaled They may seem impartial instead of paid promotions, "he said.
Mayweather agreed to pay a fine of 300 thousand dollarsand will refund 300,000 other ill-gotten gains. Khaled, meanwhile, agreed to pay a fine of 100 thousand dollars, and repay others 50 thousand dollars.
Last year, the SEC warned that digital currencies sold in mutual funds may be treated as securities and that those who offer them and sell them must comply with US securities legislation.
Under the mandate of the current president, Jay Clayton, SEC focused on cryptocurrencies and retail investment fraud. Critics of this initiative say that the agency has significantly reduced its efforts to regulate major financial institutions.
Source link
