The SEC says John McAfee promoted initial coin offerings without disclosing that issuers paid him more than $23 million for his promotions.
The agency "continues to be extremely successful in its efforts to deter bad conduct and effectively remedy harm to investors."
The SEC warns that celebrities who endorse the offerings could be violating anti-touting and anti-fraud provisions of the securities laws.
The initial coin offerings, run by a Brooklyn businessman, lured investors with 'false promises of sizable returns from novel technology.'
Fraudsters could be using “the lure of new and emerging technologies to convince potential victims" to invest in companies that promote ICOs.
The commission finds a token sale conducted through blockchain technology last year was subject to federal securities laws.
