Lessons From Steven Seagal On Digital Asset Endorsements

Law360 (April 30, 2020, 5:31 PM EDT) -- Actor, producer, reserve deputy sheriff, U.S.-Russia special envoy, writer, blues musician, reality television star, martial arts instructor and 7th dan black belt in aikido, Steven Seagal, recently found himself "Under Siege"[1] from the U.S. Securities and Exchange Commission.

On Feb. 27, the SEC accepted an offer by Seagal to settle allegations that he violated U.S. securities regulations.[2] The action against Seagal is a reminder that, when it comes to securities compliance, nobody is "Above the Law"[3] and a lack of compliance may send the SEC "Out for Justice."[4]

In its enforcement action, the SEC alleged Seagal promoted an initial coin offering...

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