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Reason
Reason
Elizabeth Nolan Brown

Kim Kardashian Must Pay $1.26 Million for Illegally Promoting Cryptocurrency Tokens

Kim Kardashian Crypto SEC United States Gary Gensler Robert Habeck Gallup

Kardashian case highlights foggy rules surrounding crypto promotion. The Securities Exchange Commission (SEC) has ordered Kim Kardashian to pay $1.26 million for promoting the cryptocurrency EMAX without disclosing that she was paid to do so.

Federal securities law requires anyone paid to promote a crypto asset to "disclose the nature, source, and amount of compensation they received in exchange for the promotion," said SEC enforcement director Gurbir S. Grewal in a press release.

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