Famous celebrity Kim Kardashian is being charged by US SEC (Securities and Exchange Commission) for “unlawfully touting” a “crypto security”. She is accused of being in violation of rules of promoting a specific crypto asset in link with EthereumMax. She was paid for promoting that crypto asset and she sold it after the pump.
Kim has agreed to settle the case with $1.26 million as fine.
The SEC says that Kardashian was in violation of its rules when she promoted a “crypto asset security offered and sold by EthereumMax” without the necessary disclosure that she was paid to promote it.
Kardashian has already agreed to settle the case, with a $1.26 million penalty payment, and to help the SEC with its ongoing investigation.
The office determined that Kardashian ought to have uncovered a $250,000 installment she got to distribute a post about EthereumMax’s EMAX tokens on her Instagram account. The settlement came to with the SEC by Kardashian incorporates a $260,000 installment that addresses that unique sum, in addition to intrigue, as well as $1 million in punishments.