She broke U.S. rules by touting a crypto token without disclosing she was paid for the promotion
Kim Kardashian will pay $1.26 million to settle Securities and Exchange Commission allegations that she broke US rules by touting a crypto token without disclosing she was paid for the promotion.
The reality television star settled the case to avoid a protracted dispute and “so that she can move forward with her many different business pursuits,” said Patrick Gibbs, a partner at the law firm Cooley who is representing Kardashian. She “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,” he added.
Kardashian included “#AD” at the bottom of the post in 2021, according to the SEC. Despite that, the SEC said investors weren’t made aware of her being paid for the ad.
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