Kim Kardashian Charged by SEC for Crypto Promo, Agrees to Pay $1.26 Million

Kim Kardashian failed to inform her followers she was paid to promote a crypto asset — a mistake that is now value her $1.26 million and fees from the Securities and Exchange Commission.

The SEC made the announcement Monday … Kardashian was allegedly paid $250,000 to submit about EMAX tokens on Instagram, a crypto asset provided by EthereumMax. Kim’s submit additionally included a hyperlink to the EthereumMax web site the place her followers may purchase the tokens.

Kim has already paid $1.26 million in penalties, disgorgement and curiosity to the SEC … and has cooperated within the SEC’s ongoing investigation.

SEC Chair Gary Gensler says, “Ms. Kardashian’s case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investing in securities.”