The SEC sues Kim Kardashian for illegal promotion of cryptocurrency securities, and she agrees to pay a fine and cooperate with the investigation

Chain Catcher News, the U.S. Securities and Exchange Commission (SEC) announced that it is suing Kim Kardashian for promoting EthereumMax crypto securities on social media without disclosing the details of the promotional payments she received. Kim Kardashian stated that she agreed to settle and will pay $1.26 million (which includes $260,000 in advertising fees and a $1 million penalty) and will cooperate with the SEC's ongoing investigation.

SEC Chairman Gary Gensler commented that Ms. Kardashian's case serves as a reminder to celebrities and others that the law requires them to disclose the time and compensation for promoting securities investments to the public. (Source link)