Kim Kardashian will pay $1.26 million to the SEC
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Kim Kardashian will pay $1.26 million to the SEC

Kim Kardashian has agreed to pay the Securities and Exchange Commission $1.26 million to settle claims that she improperly promoted a cryptocurrency without disclosing that she was compensated for the promotion.

Monday, the SEC said that Kardashian is paying the settlement without admitting or contesting the findings. Additionally, she pledged to refrain from promoting any crypto asset securities for three years.

According to the agency, Kardashian will assist in its ongoing probe.

The fine is related to a disruptive new cryptocurrency called EthereumMax, or EMAX, which was promoted to investors. In January, a class-action lawsuit was filed over the endorsements of various celebrities, including Kim Kardashian, who promoted a cryptocurrency using their popularity.

This story is in progress and will be updated.


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