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Steven Seagal settles with SEC over undisclosed bitcoin promotions
It seems that martial artist and actor Steven Seagal isn't above the law. In 2017, he touted the initial coin offering (ICO) for Bitcoiin2Gen (B2G), a digital currency that sounded shady right from the start. Seagal didn't disclose the fact that he was paid by B2G to encourage his fans to buy into the bitcoin, which is required by law when a currency qualifies as a security. (B2G didn't even bother to register as a security, which resulted in the state of New Jersey issuing it a cease-and-desist order.) The actor has agreed to pay $157,000 in disgorgement plus a $157,000 penalty.
