Last week, the U.S. Securities and Exchange Commission (SEC) announced that actor and famed martial artist Steven Seagal pumped up an initial coin offering (ICO) without telling investors he was getting paid a promotional fee to do so. Much like two prior 2018 SEC enforcement actions against Floyd Mayweather and DJ Khaled, the SEC’s Seagal enforcement action came as no surprise.
However, the SEC’s Seagal case does offer a few important reminders concerning the SEC’s current cryptocurrency posture. Specifically, for legal practitioners, financial professionals, finch consultants and the like, there are three important takeaways from the Seagal SEC order worthy of analysis:
‘Enforcement 40’ for 2020
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