Kim Kardashian has been forced to cough up £1.2million after unlawfully promoting cryptocurrency on Instagram.
has been forced to cough up £1.12million after unlawfully promoting cryptocurrency on Instagram.
‘Are you guys into crypto?’ Kim asked her fans via Instagram Stories, ‘This is not financial advice but sharing what my friends just told me about the Ethereum Max Token! A few minutes ago Ethereum Max burned 400 Trillion Tokens - literally 50% of their admin wallet giving back to the entire E-Max community.’
Despite Kim including the required hashtag, the Securities and Exchange Commission charged her with the hefty bill owing to the fact she failed to disclose that she had received $250,000 for touting the cryptocurrency. They added: ‘She wanted to get this matter behind her to avoid a protracted dispute. The agreement she reached with the SEC allows her to do that so that she can move forward with her many different business pursuits.’
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