US Securities Regulators were the promoters of boxers Floyd Mayweather and DJ Khaled on Thursday, hundreds of thousands of dollars, by encouraging cryptoconversion investments, thus charging.
The Securities and Exchange Commission (SEC) has said that two cases have been the first ones that violate cryptoconcenter promotions.
Both men initially promoted currency offers (ICOs). This means that investors are still exchanging cash or other digital currency units of the ATMs, and issuers, including Centra Tech Inc, paid them, according to the SEC.
The co-founders of Centra Tech were charged with federal charges against fraud in May.
According to SEC, Mayweather and Khaled, they used social media to promote the value of ICO.
Khaled called it a "turning point," Mayweather told Twitter users: "Get it before you wake up. I'm mine."
The court did not accept and deny SEK's allegations.
Stephanie Avakian, besides being a member of the SEC, is in need of full disclosure to investors.
"Unknown payments information, Mayweather and Khaled ICO promotions seem to be impartial, however, paid promotions," he said.
Mayweather could pay a fine of $ 300,000 and pay 300,000 for bad earnings. Khaled, meanwhile, agreed to pay $ 100,000 fine and return $ 50,000.
In the last year, SEC has warned that digital currency sold at the UIC has been treated as securities and that those offering and selling have to comply with the US securities laws.
The current president is based on Jay Clayton, SEC fraudulent and retail investment fraud. The critics of this initiative have said that the agency has made great efforts to regulate the main financial institutions.