PANews reported on August 15 that according to Cointelegraph, crypto influencers who use fake followers, views and likes to increase their social media influence may face fines from the U.S. consumer protection agency, which has just formulated new rules to combat fake reviews. The U.S. Federal Trade Commission (FTC) said on August 14 that its commissioners voted 5-0 to pass the new federal regulations, which will take effect within 60 days of publication in the Federal Register. This means they may take effect in October.
The rules prohibit anyone from "selling or buying fake social media influence metrics," including followers or views generated by bots or hijacked accounts. Rob Freund, an American advertising lawyer, said on social media: "Any attempt to increase views, saves, plays, subscriptions, likes, etc. through non-real means violates the new rules."