SEC FINES EIGHT CELEBRITIES FOR FAILURE TO DISCLOSE CRYPTO PAYOLA COMPENSATION
Date
3/24/2023 4:01:49 PM
(MENAFN- EIN Presswire) FLORIDA-BASED SOCIAL PAYME HELPS INFLUENCERS ADDRESS THIS PROBLEM
MIAMI, FL, USA, March 24, 2023/einpresswire.com / -- Several high-profile celebrities including Lindsay Lohan, Jake Paul, Ne-Yo, and Soulja Boy, are facing fines exceeding $400k from the united states securities and exchange commission (sec) (file 3-21349) for not disclosing compensation they received from Tron founder Justin Sun for promoting two Cryptocurrency tokens, Tron and Bit Torrent Token (BTT). This latest case highlights the potential risks faced by investors when crypto asset securities are sold without proper disclosure, as emphasized by SEC Chair Gary Gensler.
To address this ongoing problem, Miami-based fintech startup SocialPayMe has developed an innovative solution. According to Gurtegh Singh, President of Social PayMe, "We predicted all of this would happen several months ago. In fact, we believe that more and more countries will follow America's lead.
Our proprietary artificial intelligence platform as a service can solve this problem for brands and influencers alike."
The company's platform provides a fully compliant influencer marketing solution for brands and influencers using AI and blockchain technology. The platform ensures all marketing activities comply with US and international regulatory requirements in over 47 countries. Influencers can easily disclose their relationships with brands and track their marketing campaigns' performance, providing a secure, transparent, and compliant solution for all parties involved.
Co-Founder Gui Hada emphasizes the need for a preemptive approach to compliance in influencer marketing. The hefty fines imposed by government agencies can cripple businesses or influencers. Hada adds, "It's better to get verified and be fully transparent in compliance beforehand, and the blockchain is the best way to do this. This is going to ripple down to smaller influencers, and it's going to create havoc for influencer marketing, which is a multi-billion dollar industry."
SocialPayMe's flagship product, the Hashtag Bio mobile app, provides a secure and transparent platform-as-a-service (PaaS) for all stakeholders involved in the influencer marketing process. Brands and followers can use the app to manage, market, monetize, and measure the impact of their social media accounts. For more information, please visit SocialPayMe's website: .Jenny Kefauver
Social Pay Me
+1 703-850-3533
email us here
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