In fact, the television vedette has agreed to pay a severance payment of $1.26 million dollars (1.72 million Canadian dollars) to settle a Securities and Exchange Commission proceeding.
The Federal Reserve Board of Governors of the United States chastised Kardashian for promoting a cryptocurrency investment, the EMAX tokens, on Instagram without disclosing that she had been paid $250 000 USD (342 000 CAN) to do so.
Kim Kardashian admits guilt,
Kim Kardashian, according to the terms of the agreement, refuses to “admit or deny” the SEC’s findings. She has, however, agreed to refrain from promoting the cryptocurrency company for the next three years.
Kim Kardashian is one of the most followed celebrities on Instagram, with 301 million followers.
This is a reminder that just because celebrities or influencers endorse investment products, such as cryptocurrency exchanges, does not mean that these products are suitable for all investors, according to SEC Chairman Gary Gensler in a statement. “Le cas de Madame Kasdashian doit aussi servir d’avertissement aux célébrités et autres que la loi les oblige à déclarer si elles ont été payées, et combien, pour faire pareille promotion.”
READ MORE ARTICLES;
- Report on the Dust Control Systems Market’s Size, Share, and Growth from 2022 to 2032
- Stellantis’s Tavares thinks the chip shortage will last until 2023.
- The trade deficit continues for six consecutive months
- Windfall taxes on crude were cut by 31%, and diesel export duties were cut in half.
- Cybercrime unit head hired by the crypto-exchange operator
