Kim Kardashian Charged by SEC for “Illegal Touting Crypto Security,” Agrees to $1.26M Settlement

The SEC made the announcement Monday ... Kardashian was allegedly paid $250,000 to post about EMAX tokens on Instagram, a crypto asset offered by EthereumMax. Kim's post also included a link to the EthereumMax website where her followers could buy the tokens. (Read More Here).

SEC Chair Gary Gensler says, "Ms. Kardashian's case also 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 investing in securities."

As for how Kim's fine breaks down ... there's a $1 million penalty and the remaining $260,000 includes about how much she made for posting the promotion.

The Securities and Exchange Commission has charged Kim Kardashian for promoting a crypto security asset called EthereumMax on Instagram without disclosing she was paid to do so.

Kardashian agreed to settle the charges by paying $1.26 million and cooperating with the SEC’s ongoing investigation, the commission said Monday in a statement. Kardashian neither admitted nor denied the SEC’s findings. She agreed to not promote any crypto asset securities for three years.

The payment includes a $1 million penalty plus $260,000, which represents what Kardashian was paid plus interest.

“Ms. Kardashian’s case also 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 investing in securities,” SEC Chair Gary Gensler said in the statement.