The U.S. Securities and Exchange Commission (SEC) is charging Kim Kardashian for “unlawfully touting” a “crypto security,” the agency announced on Monday morning. The SEC says that Kardashian was in violation of its rules when she promoted a “crypto asset security offered and sold by EthereumMax” without the necessary disclosure that she was paid to promote it.
Kardashian has already agreed to settle the case, with a $1.26 million penalty payment, and to help the SEC with its ongoing investigation.
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