Kim Kardashian charged by SEC and accepts $1.3 million fine

In her June 13 2021 Instagram post, Kardashian wrote "Are you guys into crypto?

This isn't advice on finances, but rather sharing what my friends said to me about the Ethereum Max token!" She added different hashtags

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The SEC stated that the actress had more than 225 million followers on Instagram when she made her post.

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Kim Kardashian charged by SEC and accepts $1.3 million fine

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Kim Kardashian agreed to pay an $1.26 million settlement for the Securities and Exchange Commission to settle civil claims after the reality star praised the cryptocurrency asset EthereumMax on Instagram

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The SEC has charged Kardashian for not disclosing that she received $250,000 for the privilege of publishing an Instagram post.

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Along with paying the fine, she also agreed to assist the SEC's ongoing investigation.

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Kardashian also agreed not to advertise any crypto-related security for three years.

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The SEC discovered that Kardashian was in violation of the anti-touting provisions in the securities law of federal jurisdiction.

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Kardashian accepted the SEC's ruling without apologizing or denial of the findings of the SEC.

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The settlement also includes the payment of a fine of $1 million and the forfeiture of the $250,000 she was due, in addition to interest.

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