American model and fashion entrepreneur Kim Kardashian has been fined for illegally advertising certain cryptocurrencies on social media.
On social media such as YouTube, Instagram, and TikTok, there are continuous cases of 'back advertising' in which celebrities and influencers, such as celebrities, do not inform them of their advertisements and sponsorships.
The SEC issued a statement on Wednesday (local time) saying that it had found allegations that Kardashian violated federal securities laws.
According to the SEC, Kardashian agreed to pay a fine of 1.26 million dollars, 18.19.44 million won in Korean money, and cooperate with the investigation in the process.
Kardashian posted a promotional post on her own Instagram account announcing the cryptocurrency Ethereum Max, but did not properly inform that she received $260,000 from her operator in exchange for 375.44 million in our money. I'm being charged with no.
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SEC Chairman Gary Gensler said, “This is an example of a case in which investment opportunities, such as cryptocurrencies promoted by celebrities and influencers, are not suitable for all investors. "he recommended.
A lawyer for Kardashian said, "We are delighted that this matter has been resolved. Kardashian has fully cooperated with the SEC from the very beginning, and he is in a position to do anything to help the SEC in this case."
Kardashian, who made her name through a reality TV program in the United States, is a famous star who built a net worth of $1.8 billion, or 2.6 trillion won in Korean money, according to Forbes through clothing and beauty brand businesses.
(Photo = Getty Image Korea, SNS capture, Yonhap News)