Kim Kardashian has been fined by US authorities over an Instagram post promoting a cryptocurrency. jekearsley 9News MORE:
is being barred from doing so for three years and will pay a $US1.26 million fine to settle federal charges that she recommended cryptocurrency to her 330 million Instagram followers without making clear that she was paid to do so.
Kardashian, 41, is the latest celebrity to get ensnared in regulations requiring full disclosure by people getting paid to promote financial products. In 2018 the SEC settled charges against professional boxer Floyd Mayweather Jr. and music producer DJ Khaled for failing to disclose payments they received for promoting investments in a digital currency.Kim Kardashian promoted cryptocurrencies such as Ethereum Max tokens to her milions of followers on Instagram.
SEC Chair Gary Gensler said in a statement that the Kardashian settlement "serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investing in securities".Margot Robbie and Cara Delevingne involved in alleged incident with paparazzi in Argentina
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