10/8/2022
Kim Kardashian has been hit with a $1.26 million fine by the U.S. Securities and Exchange Commission after she failed to disclose that she was paid $250,000 to publish a post about EMAX tokens
The U.S. Securities and Exchange Commission (SEC) has hit reality TV personality Kim Kardashian with a $1.26 million fine for hawking crypto securities on Instagram without disclosing the partnership and payment she received for the promotion.
The Monday morning press release from the SEC said Kardashian was paid $250,000 to promote the EMAX tokens, a crypto asset security sold by EthereumMax. According to the SEC, Kardashian was paid by EthereumMax through an undisclosed intermediary.
The SEC charges stem from unlawfully touting the crypto without disclosing to her followers that she was being paid to do so.
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