m Kim Kardashian will pay $1.26 million to settle federal charges that she recommended a crypto security to her 330 million Instagram followers without making clear that she was paid to do so. The reality TV star also must give up the $250,000 she was paid for the Instagram post about Ethereum Max tokens, plus interest, according to a Securities and Exchange Commission settlement announced Monday. Kardashian didn t admit or deny the regulator s allegations as part of the settlement, in which she agreed not to tout any digital assets for three years. Kardashian included "#AD" at the bottom of the 2021 post, according to the agency. The advertisement was also singled out last year by the U.K. s financial regulator as part of a crackdown on crypto endorsements by influencers. SEC Chair Gary Gensler said in a statement the settlement "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
Even celebrities are not above the law. Kim Kardashian and the Securities and Exchange Commission (SEC) have reached a settlement agreement. The popular influencer has agreed to pay around $1.
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Kim Kardashian has been charged by the Securities and Exchange Commission for not disclosing how much she was paid for promoting a cryptocurrency on Instagram.