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27 September 2020

SEC Charges Rapper TI With Securites Violations for ICO - CoinDesk

SEC Charges Rapper TI With Securites Violations for ICO - CoinDesk


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Securities and Exchange Commission (SEC) charged two crypto startups and eight individuals including rapper Clifford Harris Jr., more commonly known as T.I., with violating the Securities Act of 1933 and other charges due to their involvement with a pair of initial coin offerings (ICOs).

are charged with violating securities law for recommending investors buy tokens from one or the other of the sales without disclosing they were paid by the projects.

The rapper has agreed to pay a $75,000 fine and not participate in any digital asset sales for at least five years; Sparks agreed to pay a $25,000 fine and likewise refrain from participating in any securities sales for five years.

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