Reality TV star Kim Kardashian has agreed to settle charges for promoting cryptocurrency on social media to the tune of $1.26million. The US Securities and Exchange Commission (SEC) brought charges against her for failing to disclose that she was paid for this promotion.
The star was accused of being paid $250,000 that she did not disclose to publish a post on her Instagram account. The post included a link to EthereumMax’s website which gave instructions on how to purchase Emax tokens.
Emax tokens are a crypto asset security and are advertised as bridging the gap between cultural tokens and known crypto currency foundations. A number of celebrities endorsed the currency and became the focus of a class action lawsuit back in January.
