Did celebrities illegally promote cryptocurrencies?

NBC News / Getty Images The Securities and Exchange Commission announced civil charges Wednesday against eight celebrities, alleging they illegally promoted cryptocurrencies Tronix and/or BitTorrent "without disclosing that they were compensated for doing so and the amount of their compensation."

Should you buy crypto if you're a celebrity?

Buyers beware. Enthusiasm for crypto from Hollywood celebrities and top athletes reached a fever pitch over the past year.

Can a celebrity promote a crypto asset?

“The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion,” said Gurbir S. Grewal, director of the SEC’s Division of Enforcement, in a statement over Kardashian’s settlement.