Kim Kardashian Pays a fine of $1.26 million for backing a crypto asset

in #kimkardarshian • 2 years ago

Kim K is no stranger to social Media, She has promoted lots of things on her Instagram and Twitter.

According to the U.S Securities and Exchange Commission, they said on Monday that the reality TV star and influencer has agreed to settle charges of unlawfully touting a crypto security.

Kim K, who has 330 million followers on Instagram and 73.7 million followers on Twitter, failed to disclose that she was paid $250,000 by crypto company EthereumMax to publish an Instagram post about its EMAX tokens, the SEC said.

The SEC in 2017 warned celebrities looking to make money on the digital asset space, that U.S. rules require they disclose when they are being paid to endorse crypto tokens

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main source: Reuters.com

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