Martial artist and actor Steven Seagal was charged with not declaring payments related to his promotion of a token launched by Bitcoiin2Gen.
Steven Seagal will no longer serve as brand ambassador for the "Bitcoiin" cryptocurrency.
The Bitcoiin2Gen trio allegedly bilked investors through false statements and celebrity crypto endorsements.
The Tennessee Department of Commerce and Insurance is warning the states residents about the Steven Seagal-backed "Bitcoiin" project.
Action film star Steven Seagal has become the brand ambassador for a controversial cryptocurrency ahead of an initial coin offering (ICO).