Why Kim Kardashian has been fined $1 million over a crypto post

Kim Kardashian has been fined $1 million over a crypto post

Kim Kardashian has been fined $1 million for promoting a crypto security on Instagram without fully disclosing that she was paid to do so.

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Kim Kardashian for promoting EthereumMax on social media without disclosing that she had been compensated for the promotion. - The United States Securities and Exchange Commission (SEC).

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She cannot promote any crypto asset securities for three years..

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Kim Kardashian crypto post in June last year, she had 220 million followers.

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Commenting on the settlement, SEC Chairman Gary Gensler stated, “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.

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