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Civil Plaintiff

Kim Kardashian Ordered to Pay SEC $1.3M to Settle Crypto Promotion Charges

Kim Kardashian has agreed to pay a $1.26 million fine after federal regulators said she unlawfully promoted a cryptocurrency on Instagram without disclosing how much she was paid for the promotion, Securities and Exchange Commission officials announced Monday morning. 

Federal regulators said the reality TV star failed to disclose she was paid $250,000 to publish an Instagram post about EMAX tokens, a crypto asset offered by EthereumMax, the SEC said in a statement. 

She shared the post in June last year, asking her millions of followers: “ARE YOU INTO CRYPTO??? THIS IS NOT FINANCIAL ADVICE BUT SHARING WHAT MY FRIENDS JUST TOLD ME ABOUT THE ETHEREUM MAX TOKEN.”

Read the source article at NBC News

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