Reality star: Kim Kardashian has to pay a high fine

Hidden earnings when promoting a digital currency cost Kim Kardashian dearly.

Reality star: Kim Kardashian has to pay a high fine

Hidden earnings when promoting a digital currency cost Kim Kardashian dearly. The reality star is paying $1.26 million in fines and compensation in a settlement with the US Securities and Exchange Commission, the agency said on Monday.

Supervisors have accused Kardashian of recommending a cryptocurrency on Instagram without disclosing that she was paid $250,000 for it.

For years, the SEC has been warning investors about dubious investment tips from celebrities with a high reach on the Internet - especially in the case of highly speculative and often laxly regulated crypto assets. In 2018, the US Securities and Exchange Commission had already fined boxing star Floyd Mayweather and hip-hop producer DJ Khaled for doing unfair paid promotions for digital currency transactions on their social media channels.

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