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Kim Kardashian will pay $1.26 million after SEC charges of “unlawfully touting”


The settlement with the SEC will see Kim Kardashian pay $1.26 million and agree not to advertise any crypto securities for three years, following allegations that she failed to disclose payments for promoting assets that were offered and sold by EthereumMX.

The SEC charged Kim Kardashian West with fraud for failing to disclose that she was compensated $250,000 to promote a post on her Instagram account regarding EMAX tokens, a cryptocurrency asset security offered by EthereumMax.

The Securities and Exchange Commission (SEC) sued professional boxer, Floyd Mayweather Jr. and music producer, DJ Khaled in 2018 for failing to reveal payments they received for promoting investments in a digital currency.

Kardashian “agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing investigation,” the SEC said Monday.

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