The US Yankee regulator SEC(Securities and Exchange Commission) charged the Action movie Star the Actor Steven Seagal with unlawful digital asset offering. Accordingly to the US regulator the actor allegedly failed to disclose Payments that received for promoting an illegal ICO.
The actor was actively promoting the Crypto dubbed Bitcoiin (B2G) in 2018 and coindesk reported it at the time, with huge promises of profit for holding the asset using a stake Scheme. The Hollywood star promotion was planned to end when the ICO was completed.
The Yankee Regulator note that the charge comes because the actor failed to disclose the amount he received of $250k in Cash and $750k in B2G tokens, in compensation for the promotional participation he carried on as Ambassador for the project. The marketing occured in his social accounts encouraging the public to be part on the Bitcoiin ICO.
SEC consider the Bitcoiin a security token as we can attest here and the Firm backing the token sold and offered it as contract investments. The actor agreed to pay $157,000 in penalty and to not promote any kind of digital asset or Securities for a period of three years!
SEC remember also that public figures are not allowed to use their social media to promote any kind of related ICO without disclosing any financial compensation also issued a warning in that direction!
I truly believe people and actors, specially them as public figures, get trapped by this rules imposed by SEC and without known the laws behind are then caught with this...now the actor will have to pay absolutely all the cash he got with his promotions!
Let's see what more cases will be spotted by the American Regulator as with this developments, there will be more cases, and to remember the Seagal case investigation is ongoing!
Republished Article Original found at Uptrennd Platform From My Authorship Here.
