New York: American model and actress Kim Kardashian has agreed to pay a fine of 1.16 million dollars for advertising cryptocurrency on her Instagram page.
The US Securities and Exchange Commission has said that the reality TV star Kardashian received two and a half million dollars to promote the cryptocurrency.
Kardashian’s lawyer has said that the TV star has fully cooperated with the SEC from the beginning and is willing to do whatever she can to help them in the case.
It should be noted that in January of this year, a lawsuit was filed against Kardashian, boxer Floyd Mayweather Jr., basketball player Paul Pierce and creators of the Ethereum Max cryptocurrency.
The lawsuit alleges that they cooperated in misleadingly promoting and selling cryptocurrency in a ‘pump and dump’ scheme designed to inflate the price before selling it to investors.
