The Assistant Regional Director of the US Securities and Exchange Commission (SEC) Atlanta office said the extreme popularity of cryptocurrency fraud in criminal circles.
According to MarketWatch, SEC official Peter Diskin called cryptocurrency fraud “the most fashionable crime” at a virtual consumer protection event. International criminals have an edge when committing cryptocurrency scams, as the global nature of cryptocurrencies can make it difficult to detect and stop fraud, according to the SEC Atlanta Assistant Regional Director.
“It is not uncommon for money to be withdrawn from US bank accounts and sent overseas, making it even more difficult to get it back if something goes wrong,” Diskin said.
Diskin also noted the growing popularity of crypto-asset promotion by celebrities and related offenses. Recall that last year, the SEC accused actor Steven Seagal of promoting the ICO of the Bitcoiin2Gen cryptocurrency project and of hiding the fact of receiving payment. Segal agreed to pay a $ 330,000 fine.
In November 2018, the SEC fined boxer Floyd Mayweather and popular producer DJ Khaled for advertising a fraudulent ICO, and a year earlier, the regulator called on well-known personalities to stop promoting digital tokens, calling it illegal activity.
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