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The US fines Kim Kardashian for promoting a crypto asset on Instagram without saying it was advertising

MADRID, 3 Oct.

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The US fines Kim Kardashian for promoting a crypto asset on Instagram without saying it was advertising

MADRID, 3 Oct. (EUROPA PRESS) -

The United States Securities and Exchange Commission (SEC) has fined 1.26 million dollars (a similar figure in euros) to the 'influencer' and businesswoman Kim Kardashian for having promoted a crypto asset in her account of Instagram without having revealed that it was paid advertising.

As part of the sanction, Kardashian has agreed to continue cooperating with the SEC in the investigation, although the payment does not imply accepting or denying the facts investigated. Likewise, it will not promote any other crypto assets for the next three years.

According to investigations by the United States financial regulator, Kim Kardashian promoted the EMAX token, offered by EthereumMax, on her Instagram social network account, including a link to her website to buy it. The 'influencer' received a payment of 250,000 dollars for it, but at no time did she indicate that it was advertising.

"This case is a reminder that when celebrities or 'influencers' endorse investment opportunities, including crypto-asset securities, it does not mean that those investment products are right for everyone," SEC Chairman Gary Gensler said.

According to the current regulations on securities of the North American country, anyone who promotes crypto assets must report who and how much they have been paid for it.

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