Steven Seagal-promoted ICO gets warning

The official site of the Securities Division of the Tennessee Department of Commerce and Insurance (TDCI) has recently published a new investor alert. The highlighted startup has connections with Steven Seagal, as previously reported by the press.

The notice tells that this “Bitcoiin” (sic) project had failed to communicate with the authorities adequately. It has also did not provide detailed reports on the business to the corresponding body in New Jersey - Bureau of Securities. They had to outline the relations of the famous Hollywood actor with the firm.

Steven Seagal has previously been criticized in the press for the choice of the materials to promote. This “second-generation Bitcoin” looks like a scam one can smell a mile away. More on this can be read in a previous Bitnewstoday’s report regarding this endeavor.

As a result of these aforementioned governmental warnings, the public gets double official confirmation that it would not be prudent to invest in Bitcoiin. Moreover, the authorities of Tennessee remind about the fickle nature of cryptocurrency assets in general.

As it seems at the press time, Steven Seagal has not commented on the accusations - although his official Twitter account confirms that the partnership indeed exists.

Image courtesy of AP