Kim Kardashian to pay huge fine for backing cryptocurrency

Reality TV star could be first of many celebrities to face fines over undisclosed payments from crypto firms, SEC suggests

Kim Kardashian will pay a $1.26 million fine for backing a crypto asset, in a case that officials said was part of a widespread problem among celebrities.

The reality TV star had failed to disclose the $250,000 she was given by cryptocurrency firm EthereumMax to promote its EMAX tokens, the US Securities and Exchange Commission said.

Kardashian published an Instagram post promoting the tokens, and included a link to a website that included instructions to buy the tokens. The post had suggested Kardashian had been told news about the token by “friends” and included the disclaimer that “this is not financial advice”.