Martial arts movie star Steven Seagal fined $300K by US SEC for shilling shitcoin 'Bitcoiin'

posted 4 months ago
The US SEC charged martial arts movie star Steven Seagal for failing to disclose payments he received for an ICO where he promoted Bitcoiin. Bitcoiin's backers were promised "considerable profit from holding Bitcoiin (B2G)" as part of the staking scheme.

“Seagal failed to disclose he was promised $250,000 in cash and $750,000 worth of B2G tokens in exchange for his promotions, which included posts on his public social media accounts encouraging the public not to 'miss out' on Bitcoiin2Gen's ICO…” The SEC considers the B2G token to be a security. Seagal agreed to pay $157,000 in fines, which represents his actual promotional payments, plus interest, and $157,000 in penalties. "In addition, Seagal agreed not to promote any securities, digital or otherwise, for 3 years," the agency added.
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