KimKardashian has agreed to pay over one million dollars to settle charges with the US securities regulators for promoting acryptocurrencies without revealing that she was paid to do so
The reality TV star did not tell the SEC about the $250,000 payment she received to post about the security token on her social media accounts.
When she asked her followers if they were into the new coin, she got a lot of attention.
Gary Gensler, SEC chair, said: "This case is a reminder that when celebrities endorse investment opportunities, it doesn't mean that those investment products are right for all investors."
The anti-touting provisions in US securities laws were violated by the reality TV star.
A lawyer for the reality TV star did not reply to requests.
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