Kim Kardashian Penalty for Advertising Cryptocurrency

One of the most famous names in social media Kim Kardashian, created a great controversy with the cryptocurrency ad he shared last year. Kardashian and names such as Floyd Mayweather and Paul Pierce shared an advertisement for a cryptocurrency called ‘EthereumMax’ from their personal Instagram accounts.

On these shares, the market value of the cryptocurrency suddenly had increased by 632%. While starting an investigation on the shares in question, today From the United States Securities and Exchange Commission (SEC) An important news has arrived. The SEC has announced the sentencing of Kim Kardashian.

Kim Kardashian fined $1.26 million for cryptocurrency ad!

According to the announcement shared by the SEC, Kim Kardashian, due to the EthereumMax (EMAX) advertisement she made on her Instagram account. 1 million 260 thousand dollars fined sentenced. He was also barred from engaging in any cryptocurrency partnerships for three years. However, the SEC announced that Kardashian received $250,000 for advertising. The reason for the punishment was stated as follows:

“The Securities and Exchange Commission charged Kim Kardashian today for posting on social media a crypto-asset security offered and sold by EthereumMax without disclosing the payment she received for the advertisement.”

On the other hand, Kardashian did not provide information on whether the SEC confirmed its conclusions. It was shared that the famous name only agreed with the SEC on the penalty. While 1 million dollars of Kardashian’s punishment was the punishment given as a result of her action, the rest was Kardashian’s. under the agreement It was $250,000 and $10,000 in interest.

Besides all this SEC chairman Gary Gensleralso issued a warning from the official YouTube account of the institution. Gensler warned investors not to invest in something just because influencers advertise.