Kim Kardashian to Pay $1.26 Million to Settle SEC Charges She Illegally Hyped Crypto

variety.com:

Todd Spangler NY Digital Editor Kim Kardashian agreed to pay $1.26 million to settle charges by the Securities and Exchange Commission that she touted a crypto asset security without disclosing the payment she received for the promotion, the agency said.

Under the settlement, without “admitting or denying the SEC’s findings,” Kardashian also agreed to not promote any crypto asset securities for three years, per the agency.

According to the SEC’s order, Kardashian failed to disclose that she was paid $250,000 to publish a post on her Instagram account about EMAX tokens, the crypto asset security being offered by EthereumMax.

Kardashian’s post linked to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens.