After a lawsuit against Justin Sun, the founder of Tron, the Securities and Exchange Commission is now concentrating on famous people who have links to the cryptocurrency business. Jake Paul, a YouTuber, has been added to the list for "illegally promoting" cryptocurrency.

Jake Paul is reportedly being sued by the SEC for promoting cryptocurrency "TRX and/or BTT," which are both linked to Justin Sun, the inventor of Tron. Paul was then charged with engaging in compensated advertising of the assets without revealing those payments to the general public.

The SEC claims that Paul "illegally touted" the cryptocurrencies TRX and or BTT without disclosing that he was compensated for his endorsement. Paul's name is the most recent addition to a list of famous people that the SEC has targeted.

Moreover, Justin Sun is being sued by the US regulatory body for possible fraud and market manipulation. The SEC labels Sun's coordination of the unregistered offer and sale of crypto asset securities as manipulative trading and unlawful touting.

Note that SEC claims Sun is,

“engaged in a scheme to distribute billions of TRX and BTT to the public while also creating active secondary markets on which TRX and BTT could be traded.”

While some support the SEC's present course of action, others are concerned about the future of cryptocurrencies if the SEC continues to operate in an unchecked manner in the future.

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