Kim Kardashian to Pay $1.26 Million for Promoting Crypto

Kim Kardashian is paying $1.26 million in penalties to the Security and Exchange Commission after participating in a promotion for crypto and withholding how it was benefiting her. Kardashian made a post in June 2021 promoting EthereumMax, a cryptocurrency token.

SEC Chair Gary Gensler released that the charges stem from the fact that Kardashian was legally required to announce when she was promoting the product, but also her $250,000 compensation for sharing it. Kardashian did not admit to any wrongdoing, but did agree she would withhold from posting any crypto-related content for the next three years. The SEC plans to maintain strict rules for when and how celebrities promote crypto and their language regarding it.