Kim Kardashian pays over $1M to settle charges linked to her crypto Instagram ad

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Kim Kardashian’s crypto misadventure has landed her in hot water with federal regulators.

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The reality TV superstar and influencer has settled Securities and Exchange Commission charges that 

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she failed to disclose a payment she received for touting a crypto asset on her Instagram feed, the agency announced Oct. 3.

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“This case is a reminder that, when celebrities or influencers endorse investment opportunities, 

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including crypto asset securities, it doesn’t mean that those investment products are right for all investors,” Gary Gensler, chairman of the SEC, said in a news release.

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Kardashian, who is reportedly worth $1.8 billion, agreed to pay $1.26 million to settle the charges over a promotion on Meta’s Instagram for EthereumMax’s crypto asset, the SEC said.

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She will also cooperate with an ongoing investigation, and has agreed to not promote crypto securities for three years, the regulator added.

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However, Kardashian, who has built a media and lifestyle empire, neither admitted to nor denied the regulator’s findings, the SEC said.

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In a statement, a lawyer for Kardashian said she is pleased to have resolved the matter.

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“Kardashian fully cooperated with the SEC from the very beginning and she remains willing to do whatever she can to assist the SEC in this matter.

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