Paris Hilton, Floyd Mayweather and Jamie Foxx Warned by SEC over ICO Promotion

[kreslik.news]

The US Securities and Exchange Commission (SEC) has finally made a statement about the recent trend of celebrities promoting investments in initial coin offerings (ICOs) to their fans. Notable recent examples of this include socialite Paris Hilton (LydianCoin), Hollywood actor Jamie Foxx (Cobinhood) and boxing champion Floyd Mayweather (Stox).

The regulator explains that after the investigation concerning The DAO, it warned that virtual tokens or coins sold in ICOs may be securities, and those who offer and sell securities in the US must comply with the federal securities laws. Any celebrity or other individual who promotes a ... (read more)