Kim Kardashian to pay €1.3m over touting crypto on her Instagram page

The regulator has warned celebrities touting cryptocurrencies need to make clear if they’re paid for the backing

Kardashian didn’t admit or deny the regulator’s allegations in settling the case.

Kim Kardashian will pay $1.26m to settle Securities and Exchange Commission allegations in the US that she broke US rules by touting a crypto token without disclosing she was paid for the promotion.

The SEC said Kardashian was paid $250,000 (€256,083) to post on her Instagram account about EMAX tokens, a crypto asset offered by EthereumMax. Kardashian didn’t admit or deny the regulator’s allegations in settling the case.