SEC guidelines for crypto influencers over certain emojis use

The US SEC issued a list of emojis, which falls under the financial advice of any financial advisor or Influencer if they will be used anywhere. 

The United States Securities and Exchange Commission (SEC) is a dominant financial spot cash regulatory body. Over the years, the SEC ruling under the leadership of SEC chairman Gary Gensler showed that the SEC agency only hates cryptocurrencies. Many times the SEC chairman stated that changing the technology behind the asset doesn’t change the class of that asset. 

Recently Lisa Braganca, the former chief at the SEC branch, took to Twitter to inform all the people that the SEC agency issued new guidelines for all the people to remain aware of the use of certain emojis like 🚀 📈 💰.

According to the issued guidelines, if any person will use these mentioned emojis on Twitter or other social media profiles then that will be considered as legal advice and obviously, that will be used in the legal proceedings in case of any dispute. 

These things are clear-cut actions against all those crypto Influencers, who promote crypto assets with the use of these emojis but at the same time, they say don’t consider tweets as financial advice. 

Experts noted that such efforts by the SEC agency will help to save the citizens against any kind of asset price manipulation. 

SEC vs Crypto 

In the last two weeks, the SEC agency showed significant negative action against the crypto sector. In particular, SEC sent a Wells notice to the BUSD stablecoin issuer Paxos over the nature of BUSD. 

Secondly, the SEC fined a $30 million charge against the Kraken Crypto staking services, as a violation of federal securities laws. 

Read also: Cardano beats Ethereum in terms of GitHub development activity