–>
-
ALSO READ
Kim Kardashian to promote Beyond Meat as new ‘chief taste consultant'
Instagram to become more video-focused over time: Platform head Mosseri
Crypto traders in bullish mode despite hawkish Fed comments on inflation
Trading dries up on Indian crypto exchanges as new transaction tax kicks in
Crypto wrap: ‘Merge' in focus, inflation figures still key, say experts
-
–>
–>
Kim Kardashian has agreed to settle charges brought by the Securities and Exchange Commission and pay USD 1.26 million for promoting a cryptocurrency on social media without disclosing the payment she received for the plug.
The sec said on Monday that the reality TV star and entrepreneur has agreed to cooperate with its ongoing investigation.
The SEC said Kardashian failed to disclose that she was paid USD 250,000 to publish a post on her Instagram account about EMAX tokens, a crypto asset security being offered by EthereumMax.
Kardashian's post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens.
The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion, Gurbir Grewal, director of the SEC's division of enforcement, said in a prepared statement.
Kardashian has agreed to not promote any crypto asset securities for three years.
While Kardashian is well known for reality tv, currently appearing on The Kardashians” on hulu, she is also a successful businesswoman.
Her brands include SKIMS, which has shapewear, loungewear and other products, and a skincare line called SKKN.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Kim Kardashian has agreed to settle charges brought by the Securities and Exchange Commission and pay USD 1.26 million for promoting a cryptocurrency on social media without disclosing the payment she received for the plug.
The SEC said on Monday that the reality TV star and entrepreneur has agreed to cooperate with its ongoing investigation.
The SEC said Kardashian failed to disclose that she was paid USD 250,000 to publish a post on her Instagram account about EMAX tokens, a crypto asset security being offered by EthereumMax.
Kardashian's post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens.
The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion, Gurbir Grewal, director of the SEC's division of enforcement, said in a prepared statement.
Kardashian has agreed to not promote any crypto asset securities for three years.
While Kardashian is well known for reality tv, currently appearing on The Kardashians” on hulu, she is also a successful businesswoman.
Her brands include SKIMS, which has shapewear, loungewear and other products, and a skincare line called SKKN.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
