Kim Kardashian Fined $1 Million By SEC Over Crypto Promotion

NEW YORK, N.Y. (AP) – The long list of celebrities promoting cryptocurrencies just got shorter.

Kim Kardashian is being barred from doing so for three years – and will pay a $1 million fine – to settle federal charges that she recommended a crypto security to her 330 million Instagram followers without making clear that she was paid to do so.

The reality TV star also must give up the $250,000 she was paid for the Instagram post about Ethereum Max tokens, plus interest.

That’s according to a Securities and Exchange Commission settlement announced Monday.

Kardashian is the latest celebrity to get ensnared in regulations that require full disclosure by people getting paid to promote financial products.