https://sputnikglobe.com/20221003/kim-kardashian-agrees-to-pay-fine-exceeding-1mln-over-crypto-ad-1101470741.html
Kim Kardashian Agrees to Pay Fine Exceeding $1Mln Over Crypto Ad
Kim Kardashian Agrees to Pay Fine Exceeding $1Mln Over Crypto Ad
Sputnik International
Earlier, Kim Kardashian - according to the US Securities and Exchange Commission (SEC) - advertised the EthereumMax token, without indicating that she had... 03.10.2022, Sputnik International
2022-10-03T15:50+0000
2022-10-03T15:50+0000
2022-10-03T15:50+0000
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The reality TV superstar Kim Kardashian has agreed to pay a fine to the Securities and Exchange Commission to settle civil charges against her.The SEC ruling says that Kardashian did not disclose information that she has been paid $250,000 for making post on Instagram* about EMAX tokens offered by EthereumMax. Kardashian's post contained a link to a website where potential investors could get acquainted with the instructions for buying tokens.Kardashian agreed to pay the state $1.26Mln, consisting of $260,000 in compensation for the illegal transaction and a fine of $1,000,000. The blogger also pledged not to advertise securities of crypto assets for three years.Kardashian's fortune is estimated to be $1.8Bln.*Meta (Facebook, Instagram) is banned in Russia as an extremist organization
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Kim Kardashian Agrees to Pay Fine Exceeding $1Mln Over Crypto Ad
Earlier, Kim Kardashian - according to the US Securities and Exchange Commission (SEC) - advertised the EthereumMax token, without indicating that she had received a reward for the ad post.
The reality TV superstar Kim Kardashian has agreed to pay a fine to the Securities and Exchange Commission to settle civil charges against her.
The SEC ruling says that Kardashian did not disclose information that she has been paid $250,000 for making post on Instagram* about EMAX tokens offered by EthereumMax. Kardashian's post contained a link to a website where potential investors could get acquainted with the instructions for buying tokens.
“This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn’t mean that those investment products are right for all investors,” Gary Gensler, chairman of the SEC, said.
Kardashian agreed to pay the state $1.26Mln, consisting of $260,000 in compensation for the illegal transaction and a fine of $1,000,000. The blogger also pledged not to advertise securities of crypto assets for three years.
Kardashian's fortune is estimated to be $1.8Bln.
*Meta (Facebook, Instagram) is banned in Russia as an extremist organization
