Highlights

  • Fine includes a penalty of $1 million plus $260,000, representing the amount Kardashian paid plus interest
  • She also agreed not to promote any crypto asset securities for three years

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Kim Kardashian pays $1.26m for unlawful crypto promo

Reality-star-turned entrepreneur Kardashian came to fame with the US reality show "Keeping Up With the Kardashians," which tracked the lives of her family members in Los Angeles

US reality star Kim Kardashian has agreed to pay a $1.26 million fine after unlawfully pushing a cryptocurrency advertisment on Instagram without revealing that she was paid to do so, the Securities and Exchange Commission announced.

The agency accused Kardashian, who has 331 million followers on Instagram -- making her one of the top ten most followed people on the global social network -- of failing to disclose that she was paid $250,000 to post about EMAX tokens, the crypto asset security being offered by EthereumMax.

The fine includes a penalty of $1 million plus $260,000, representing the amount Kardashian paid plus interest, the SEC said in a statement. She also agreed not to promote any crypto asset securities for three years.

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