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SEC Charges Floyd Mayweather & DJ Khaleed for promoting cryptocurrency ICO

 
Anonymous Coward
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Germany
11/30/2018 10:57 AM
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SEC Charges Floyd Mayweather & DJ Khaleed for promoting cryptocurrency ICO
Retired boxer Floyd Mayweather may be undefeated in the ring, but he just lost against the Securities and Exchange Commission.

Mayweather and music producer DJ Khaled each settled charges with the SEC Thursday for failing to disclose payments they received for promoting initial coin offering investments last year.

It’s the first time the SEC brought charges for plugging ICOs — signaling the regulator’s increasing crackdown on the crypto space.

“Get yours before they sell out, I got mine…” Mayweather tweeted about the Centra Tech ICO, while failing to disclose that he received $100,000 from the coin issuer for the promotional tweets, the SEC said....

Last year, the SEC warned that ICOs closely resembled traditional securities like stocks and would be regulated as such.


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