30 Nov 2018
Boxer Floyd Mayweather Jr. and a music producer known as “DJ Khaled” failed to disclose payments they received for promoting investments in initial coin offerings, the U.S. Securities and Exchange Commission (SEC) said on Thursday.
Neither Mayweather nor Khaled Mohamed Khaled admitted or denied the regulator’s charges, but agreed to pay a combined $767,500 (600,782.8 pounds) 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.
– Katanga Johnson, Reuters, 29 November 20118.
Link to Reuters.
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