Alleged Advisors. What bloggers face for advertising a cryptocurrency scam

Alleged Advisors. What bloggers face for advertising a cryptocurrency scam

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Author: Robert Strickland (crypto-journalist)
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Alleged Advisors. What bloggers face for advertising a cryptocurrency scam

experts named the measures of responsibility for the promotion of fraudulent cryptocurrency projects in social networks and telegram channels

Experts told about possible measures and consequences for celebrities and administrators of telegram channels for the promotion of dubious projects related to cryptocurrencies

French lawmakers unanimously supported new rules restricting the promotion of cryptocurrencies involving celebrities and bloggers on social networks, according to a statement from the country's Senate, published May 25. The law allows the promotion of products by any cryptocurrency company registered with the Financial Markets Authority and could be the first such legislation in Europe.

The world has not yet developed uniform rules establishing liability for promoting questionable or outright fraudulent cryptocurrency projects. In the U.S., regulators occasionally issue fines to Influencers caught promoting crypto-assets.

Last October, the Securities and Exchange Commission (SEC) ordered Kim Kardashian to pay a record fine of $1.26 million; in March, the agency also fined a number of celebrities, including actress Lindsay Lohan and popular rappers Lil Yachty and Soulja Boy for $400,000.

However, these are isolated cases, and perhaps the fines pay off royalties. For example, Elliptic cryptocurrency analyst Tara Ennison estimates that the Ethereum wallet of popular U.S. streamer Adin Ross was used for promoting crypto gambling projects for about $35 million.

 

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