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Kim Kardashian<\/strong><\/p>\n The US Securities and Exchange Commission on Monday announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion.<\/p>\n Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission\u2019s ongoing investigation.<\/p>\n The SEC\u2019s order finds that Kardashian failed to disclose that she was paid $250,000 to publish a post on her Instagram account about EMAX tokens, the crypto asset security being offered by EthereumMax. Kardashian\u2019s post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens.<\/p>\n \u201cThis case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn\u2019t mean that those investment products are right for all investors,\u201d said SEC Chair Gary Gensler. \u201cWe encourage investors to consider an investment\u2019s potential risks and opportunities in light of their own financial goals.\u201d<\/p>\n \u201cMs. Kardashian\u2019s case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investing in securities,\u201d Chair Gensler added.<\/p>\n \u201cThe federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion,\u201d said Gurbir S. Grewal, Director of the SEC\u2019s Division of Enforcement. \u201cInvestors are entitled to know whether the publicity of a security is unbiased, and Ms. Kardashian failed to disclose this information.\u201d<\/p>\n The SEC\u2019s order finds that Kardashian violated the anti-touting provision of the federal securities laws. Without admitting or denying the SEC\u2019s findings, Kardashian agreed to pay the aforementioned $1.26 million, including approximately $260,000 in disgorgement, which represents her promotional payment, plus prejudgment interest, and a $1,000,000 penalty. Kardashian also agreed to not promote any crypto asset securities for three years.<\/p>\n \n\t<\/div>\n","protected":false},"excerpt":{"rendered":" \u00a0 Kim Kardashian The US Securities and Exchange Commission on Monday announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate […]<\/p>\n","protected":false},"author":1,"featured_media":1216025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[1787,8601,3235,3236,1111,1902],"class_list":{"0":"post-1216024","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-entertainment","8":"tag-charges","9":"tag-dailyguide","10":"tag-kardashian","11":"tag-kim","12":"tag-network","13":"tag-sec"},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1216024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1216024"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1216024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1216024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1216024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1216024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}