The key phrase that we should take into consideration is they may be violating the law. It said MAY be violating the law, not IS DEFINITELY or POSITIVELY violating the law. So that takes it in a legal gray area.
Its a warning from the SEC that they can harass you, but from my perspective, they cant do anything else about it. Its a bluff until we witness some celebrity endorser get prosecuted.
This, I think this is just a way for the SEC to say to everyone else, stop doing this or you may get in trouble with us and since no one wants to get trouble with them then I think the days of celebrities endorsing cryptocurrencies are going to be over soon, which is not a bad thing since who cares if Paris Hilton is endorsing a project, she does not know anything about crypto and her word means nothing in this forum.
Right. Crypto doesn't need spoiled millionnaires endorsing it. Sec can restrain any celebrity they want and crypto will still rise. It's inevitable. And i can't imagine a celebrity endorsing it in the first place