Steven seagal fined in us over cryptocurrency promotion

You're referring to the recent news about Steven Seagal, the American actor and martial artist, being fined by the US Securities and Exchange Commission (SEC) for promoting a cryptocurrency without disclosing his compensation.

Here's a brief summary:

In February 2020, the SEC charged Steven Seagal, along with three others, with violating federal securities laws by promoting a cryptocurrency called Bitcoiin2Gen (B2G) without disclosing his compensation. Seagal had promoted B2G on social media, claiming it was a "revolutionary" and "game-changing" cryptocurrency.

The SEC alleged that Seagal failed to disclose that he was being paid $250,000 to promote B2G, which is a violation of the anti-touting provisions of the federal securities laws. The agency also charged Seagal with making false and misleading statements about B2G, including claiming that it was a "blockchain-based" cryptocurrency when it was not.

In August 2020, Seagal agreed to settle the charges with the SEC, without admitting or denying the allegations. As part of the settlement, Seagal was ordered to pay a civil penalty of $312,500 and was banned from promoting any securities for three years.

This case serves as a reminder to celebrities and influencers to carefully review and comply with securities laws when promoting investments, including cryptocurrencies.