US SEC Has Reportedly Issued a Subpoena to Influencers Promoting Cryptos Such as PulseX
During some of the previous years, the influencers in the social media sectors have become notorious in the eyes of the regulatory agencies for the marketing of unvetted and hazardous tokens to several million investors. To pursue such scenarios’ crackdown, the Securities and Exchange Commission of the United States reportedly released a subpoena to those influencers who had been witnessed being engaged in such activities.
US Regulator Sends Subpoena for Influencers Marketing PulseX, PulseChain, and HEX
In this respect, the influencers considered responsible for promoting the crypto tokens like PulseX, PulseChain, and HEX were targeted by the SEC. Eric Wall, a researcher of Swedish origin, shared the SEC’s official letter of 1st November to address the respective influencers. The document noted that the agency is of the view that the data and documents related to a contemporary inquiry might be in the possession of the influencers.
A subpoena was attached with the letter as included in the respective investigation, asking the liable influencers to provide the needed documents by the 15th of November this month. While the participants of the HEX community reacted against this to be a piece of false news, Wall rapidly brought to the front that the information channels of HEX on Telegram and Discord were overwhelmed with information regarding discussions and data’s anonymity.
He moved on to challenge the community participants of HEX who asserted the bogusness of the subpoena. On the 3rd of November, HEX founder “Richard Heart” shared a Twitter post that additionally targeted the HEX community. His post was shared in support of the claims that were made on the behalf of Wall. Nonetheless, it was clarified by him that the US-based securities regulator does not have any respect in his eyes and he only shared the news.
SEC Chair Justifies Agency’s Action by Citing Former Examples
Recently, Gary Gensler (the chairman of the SEC), utilized examples of the enforcement actions taken by the SEC against BlockFi (a company providing services related to crypto lending) and a person who was formerly an employee of Coinbase.
This was done to justify the activities of the organization over the infringement of the securities laws of the United States. In the words of the SEC chairman, the enforcement staff of the commission comprised cops as well as public servants who were unifying the public enthusiasm with uncommon capacity.
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