Kim Kardashian will pay $1.26 million for infringement in cryptocurrency advertising
Kim Kardashian has agreed to pay a $1.26 million fine in connection with allegations of improper advertising of cryptocurrency. This is stated in a statement from the U.S. Federal Securities and Exchange Commission.
According to the document, Kardashian posted a message on social media in June 2021 about the digital currency EMAX. It contained a link for potential buyers. Kardashian indicated at the time that the post was promotional in nature, but did not specify that she received $250,000 for posting it.
Kardashian was required to disclose the funds she received for posting the message. In addition to paying the fine, the photomodel has agreed not to advertise the cryptocurrency for three years.
Kardashian’s lawyer told reporters that his client is cooperating fully with the U.S. Securities and Exchange Commission.