• The Securities and Exchange Commission announced a $1.4 fine against former NBA player Paul Pierce on Feb. 17 for not disclosing payments for promoting cryptocurrency.
• The SEC reported that Pierce leveraged his fanbase and celebrity platform on social media to tout EMAX tokens sold by EthereumMax, without disclosing that he was paid for the promotion.
• The agency alleges he made false claims about the crypto asset and delivered misleading messages. Pierce agreed to settle the charges with $1.4 million in penalties and interest, according to the SEC.

Tagged: CryptoCurrency