Several crypto firms are facing a probe from the United States Federal Trade Commission (FTC) over possible deceptive or misleading advertisements relating to cryptocurrencies. According to a Dec. 6 report from Bloomberg, FTC spokeswoman Juliana Gruenwald said the watchdog is investigating “several firms for possible misconduct concerning digital assets.” Gruenwald did not provide further details about which firms were the subject of the investigation or what had triggered the probe. However, deceptive advertising and promotion have been a trending topic in the United States this year. In October, reality TV star Kim Kardashian was fined by the United States Securities and Exchange Commission (SEC) for “touting on social media” about the EthereumMax (EMAX) crypto token without disclosing she was paid $250,000 to promote it. In November, NFL quarterback Tom Brady and NBA point guard Stephen Curry were reportedly among a group of celebrities facing a probe from the Texas financial regulator over their promotion of the now-bankrupt crypto exchange, FTX. The FTC is an independent agency of the United States which was created to protect the public from deceptive or unfair business practices through law enforcement, research and education.
Read more : US consumer watchdog probes crypto firms over deceptive ads.
