Kim Kardashian to pay US$1.3mil to SEC for crypto touting

Kardashian included '#AD' at the bottom of the post in 2021, according to the SEC. Despite that, the SEC said investors weren’t made aware of her being paid for the ad. — AFP

Kim Kardashian will pay US$1.26mil (RM5.86mil) to settle Securities and Exchange Commission allegations that she broke US rules by touting a crypto token without disclosing she was paid for the promotion.

The SEC said Monday Kardashian was paid US$250,000 (RM1.16mil) to post on her Instagram account about EMAX tokens, a crypto asset offered by EthereumMax.