Advertisements should be honest and truthful than the 'endorsing' celebrity, and advertisers are subject to liability if proven otherwise, according to the U.S. Federal Trade Commission guidelines.
Investors who filed suit in Florida to have their case certified as a class-action lawsuit have been denied by U.S. District Judge Robert N. Scola, Jr.
Securities regulators in the United States have fined two celebrities who were found to have failed to disclose that they were paid to promote initial coin offerings.
After the Securities and Exchange Commission (SEC) shuts down the Mayweather-backed ICO over fraud charges, the boxing champ might have to respond personally for his involvement.
Three people allegedly behind the cryptocurrency startup Centra Tech have each been charged with securities fraud, two counts of conspiracy and wire fraud.
One of Centra’s co-founders, Raymond Trapani, was charged with violating the anti-fraud and registration provisions of the federal securities laws in connection with the 2017 ICO.