Kim Kardashian will pay $1.26million to settle SEC charges that she failed to disclose $250,000 she received for touting a crypto asset on her Instagram feed

Kim Kardashian agrees to pay up after being busted for taking crypto payment 

Kim Kardashian has agreed to pay up more than a cool million to settle with the DEC after she failed to disclose a $250,000 payment she received for promoting crypto on her Instagram.

She has also agreed not to tout any more crypto assets for three years and to fully cooperate with ongoing investigations.

The SEC found that Kardashian had failed to disclose the payment from EthereumMax to promote crypto asset EMAX tokens.

‘This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn’t mean that those investment products are right for all investors,’ Gary Gensler, chairman of the SEC, said in a news release.

‘Ms. Kardashian’s case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investing in securities,’ Chair Gensler added.

More to follow… 

Kim Kardashian will pay $1.26million to settle SEC charges that she failed to disclose $250,000 she received for touting a crypto asset on her Instagram feed

The reality TV star posted an advert for Ethereum Max – a digital ‘token’ similar to Bitcoin – on Instagram on Sunday. She said: ‘Are you guys into crypto??? This is not financial advice but sharing what my friends told me about the Ethereum Max token!’

Source: Kim Kardashian will pay $1.26million to settle SEC charges that she failed to disclose $250,000 she received for touting a crypto asset on her Instagram feed

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