The reality TV star also must give up the $250,000 she was paid for the Instagram post about Ethereum Max tokens, plus interest, according to a Securities and Exchange Commission settlement announced Monday.
- The long list of celebrities promoting cryptocurrencies just got shorter. Kim Kardashian is being barred from doing so for three years — and will pay a $1 million fine -- to settle federal charges that she recommended a crypto security to her 330 million Instagram followers without making clear that she was paid to do so.
SEC Chair Gary Gensler said in a statement that the Kardashian settlement “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.” The SEC said Kardashian agreed to cooperate with an ongoing investigation, though it didn’t provide any details on that investigation.
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Kim Kardashian settles with SEC over crypto promotionThe SEC said Monday that Kim Kardashian has agreed to cooperate with its ongoing investigation.
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Kim Kardashian Pays $1.26M to Settle SEC Charges For Promoting EthereumMaxBREAKING: SECGov has charged KimKardashian for unlawfully touting EthereumMax without disclosing the payment she received. By OKnightCrypto
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Kim Kardashian Agrees To Pay $1.26 Million To Settle SEC Cryptocurrency Promotion ChargeAn SEC investigation found Kardashian had failed to disclose that she was being paid to promote a crypto token to her Instagram followers.
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Kim Kardashian pays over $1M to settle SEC charges related to crypto promo on InstagramThe SEC said Kim Kardashian failed to disclose that she was paid $250,000 to publish a post on her Instagram about EMAX tokens — a crypto asset security offered by EthereumMax.
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Kim Kardashian Will Pay SEC $1.26 Million Over Crypto Ad on InstagramThe billionaire promoted something called EthereumMax, which turned out to be worthless.
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Kim Kardashian charged by SEC over crypto asset security, agrees to pay $1.26 million fineThe SEC said Kardashian failed to disclose that she was paid $250,000 to publish a post on her Instagram account about EMAX tokens.
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