Kardashian’s flagrant promotion of an individual crypto token was effectively low-hanging fruit for regulators, experts said. But celebs who promoted sites like Crypto.com and FTX — where customers can trade a wide swath of cryptocurrencies — could also be targets, according to crypto expert and London School of Economics visiting fellow Garrick Hileman.
“I would wonder whether that’s the next frontier,” Hileman said of targeting celebs for promoting exchanges.
Gensler has said many cryptocurrencies are operating as “unregistered securities” and the SEC could therefore interpret celebs who promote sites for trading the digital coins as violating securities laws, Hileman said.
He added that David, Damon and Brady should be “worried” about the Kardashian news.
‘Enforcement 40’ for 2020
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