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Kim Kardashian Pays $1.26 Million Fine for Crypto Promotion
Celebutante Kim Kardashian has paid $1.26 million to the Securities and Exchange Commission (SEC) to settle charges relating to her promotion of the EthereumMax digital token.
Kardashian promoted the cryptocurrency to her 328 million followers on Instagram in June 2021, triggering an investigation by the SEC.
According to the regulatory body, the reality TV star failed to disclose the fact that she was paid a substantial amount of money to advertise the token. While Kardashian did post the hashtag “#ad,” SEC chair Gary Gensler said in a news release unveiling the charges that the law requires celebrities “to disclose to the public when and how much they are paid to promote investing in securities.”
The crackdown on Kardashian is part...
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