Entertainment: The American star Kim Kardashian received a fine of 1.26 million euros for having fraudulently promoted a cryptocurrency

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The fine due by the influencer includes a penalty of one million dollars and a recovery of 260,000 Dollars.

  La star américaine Kim Kardashian écope d'une amende de 1,26 million d'euros pour avoir frauduleusement promu une cryptomonnaie © supplied by Franceinfo

she praised an cryptocurrency on Instagram, without mentioning that she was paid to do so. Sanctioned, Kim Kardashian agreed to pay $ 1.26 million fine, the Wall Street gendarme announced on Monday October 3. The authority more precisely accuses the reality TV, influencer and businesswoman of advertising an asset in cryptocurrencies, the Emax tokens, sold on Ethereummax, failing to point out that it had been remunerated 250,000 Dollars by the platform for this operation.

The fine includes a penalty of a million dollars as well as a recovery of $ 260,000 which represents the sum affected by Kim Kardashian and interest. The ex-wife of the American rapper Kanye West, who agreed to cooperate with the SEC, also undertook not to promote assets in cryptocurrencies for three years.

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In the accused message she had published in June 2021, she wrote, while in capital letters: "You like cryptos ??? It is not financial advice but I share with you what my friends come from me Say on the Ethereummax token! "

The dry calls for prudence

"This case recalls that when celebrities or influencers promise investment opportunities, including assets in cryptocurrencies, this does not mean that these investment products are good for all investors" , said Gary Gensler, the boss of the dry. "We encourage investors to consider the potential risks and opportunities for an investment in light of their financial objectives," he added.

According to Forbes, Kim Kardashian's personal fortune amounts to $ 1.8 billion. It has 331 million subscribers on Instagram.

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