Kim Kardashian has agreed to pay $1.26 million to settle Securities and Exchange Commission (SEC) charges that she promoted a cryptocurrency on Instagram without disclosing that she’d been paid $250,000 to do so.
The SEC said Monday that the reality TV star and entrepreneur has agreed to cooperate with its ongoing investigation.
The SEC said Kardashian failed to disclose that she was paid to publish a post on her Instagram account about EMAX tokens, a crypto asset security being offered by EthereumMax.
Kardashian’s Instagram post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens….