Monday , December 6 2021

Mayweather and DJ Khaled fined for encouraging crypto coins


On Thursday, US securities regulators, boxer Floyd Mayweather and music organizer DJ Khaled were faced with hundreds of thousands of dollars.

The Securities and Exchange Commission (SEC) said that both cases were the first to violate the promotion of crypto coins.

Both men introduced the first money offers (ICO) they had yet to exchange cash or other digital currency for crypto-currency units, without the issuers issuing issuers, including Centra Tech Inc. According to the SEC, it was paid for.

The founders of Centra Tech were charged with federal charges in May.

According to the SEC, Mayweather and Khaled used social media to increase the value of the ICO.

While Mayweather told Twitter users, Khaled called it a "turning point": "Take yours before they run out. I have mine."

The defendants refused and refused the accusations of the SEC.

Stephanie Avakian, co-chair of the SEC's compliance department, said the deals highlighted the need for full disclosure to investors.

Görün Without information about the payments, MayWeather and Ihaled's ICO promotions may appear neutral rather than paid promotions, “he said.

Mayweather has agreed to pay a $ 300,000 fine and will pay 300,000 compensation for the earnings earned. Khaled agreed to pay a $ 100,000 fine and pay him $ 50,000.

Last year, the SEC warned that digital currencies sold in UCIs could be treated as securities and that those who offer and sell them must comply with US securities laws.

According to Jay Clayton, current president, the SEC focused on crypto-money and retail investment fraud. Critics of the initiative say the agency has greatly reduced efforts to regulate key financial institutions.

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