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Kim Kardashian pays $1.26 mn fine for illegally promoting crypto on Instagram
Updated On: 04 October, 2022 11:22 AM IST | Washington | IANS
Kardashian has also agreed to not promote any crypto asset securities for three years
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Kim Kardashian. Pic/AFP
Reality TV star Kim Kardashian paid $1.26 million fine after she was charged with unlawfully promoting an illegal crypto investment scheme on Instagram, the US Securities and Exchange Commission (SEC) said on Monday. Kardashian has also agreed to not promote any crypto asset securities for three years.
She promoted on social media a crypto asset offered and sold by EthereumMax without disclosing the payment she received for the promotion. The SEC said that she agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission`s ongoing investigation.
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