WASHINGTON — Kim Kardashian can pay $1.26 million to settle regulatory allegations that she didn’t disclose cash she paid to buyers to advertise a cryptocurrency, the Securities and Change Fee mentioned.
The SEC mentioned Ms Kardashian ought to have disclosed that she was paid when she promoted the eMax crypto token on her Instagram account. The SEC mentioned its put up contained a hyperlink to the token offerer’s web site with directions for investing in eMax.
Ms Kardashian agreed to settle the SEC’s claims with out refusing to simply accept or deny wrongdoing. The company mentioned it additionally agreed to cooperate with the SEC’s ongoing investigation.
SEC Chairman Gary Gensler mentioned, “This case is a reminder that, whereas celebrities/influencers have supported opposition to investing, together with crypto asset securities, it doesn’t imply that these funding merchandise are proper for all buyers. ”
A lawyer for Ms Kardashian didn’t instantly return a message searching for touch upon the matter.
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