Boxer Floyd Mayweather and 'DJ Khaled' charged by SEC over token offerings
Updated : November 30, 2018 08:00 AM IST
Neither Mayweather nor Khaled Mohamed Khaled admitted or denied the regulator’s charges, but agreed to pay a combined $767,500 in fines and penalties, the SEC said in a statement.
Reuters reported this week on the rise in self-proclaimed social media personalities who charge thousands of dollars for positive reviews of cryptocurrencies without disclosing their investments in the asset.
The SEC issued a warning about promotion of online fundraisers known as initial coin offerings (ICOs) on November 1 last year.