Former SEC Branch Chief LisaBraganca joined “First Mover” to discuss the Kardashian token-tout debacle and what implications it could have for celebrities promoting tokens. _franvela reports
cryptocurrency ethereumMax was a “gift” to the Securities and Exchange Commission , said Lisa Braganca, former enforcement branch chief at the U.S. agency.
“The chairman [Gary Gensler] is absolutely right to say there is a specific statute that addresses and requires that there be disclosure, not just of a paid promotion, but the amount that someone either has been paid or expects to be paid,” said Braganca, who now runs her own firm, Braganca Law.tag placed at the bottom of Kardashian’s Instagram post. “It was pretty misleading.”
The Kardashian token-tout debacle isn’t the first time the SEC has gone after celebrities promoting crypto as investments, she noted. In 2018, boxer Floyd Mayweather Jr.Now, however, the SEC could be showing “greater levels of irritation,” and is in search of “bigger penalties,” Braganca said.
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Kim Kardashian's EthereumMax Promotion Was a 'Gift' to the SECFormer SEC Branch Chief LisaBraganca joined “First Mover” to discuss the Kardashian token-tout debacle and what implications it could have for celebrities promoting tokens. _franvela reports
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