Kim Kardashian pays $1.26 million to settle SEC crypto charge
American socialite, media personality, and businesswoman Kim Kardashian has been expanding her horizons ever since but the 41-years-old was recently caught up in a penalty regarding the unlawful touting of crypto security.
Kardashian agreed to pay $1.26 million in penalties and associated fees, according to a statement by the US Securities and Exchange Commission.
According to media reports, Kardashian failed to disclose that she was paid USD250,000 to publish a post about EMAX tokens, the crypto asset security being offered by EthereumMax, on her Instagram account. The KKW Beauty owner's post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens, which has agreed to pay the charge levied without admitting or denying the SEC's findings.
Under US law, people who tout any stock or crypto security are obligated to disclose not only that they are getting paid, but also the amount, the source, and the nature of those payments.
On the work front, Kardashian recently launched a skincare line SKKN.
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