Kardashian shared to her 250 million plus Instagram followers, “ARE YOU INTO CRYPTO??? THIS IS NOT FINANCIAL ADVICE BUT SHARING WHAT MY FRIENDS JUST TOLD ME ABOUT THE ETHEREUM MAX TOKEN.”
The SEC on Monday said Kardashian failed to report that she was paid $250,000 by EthereumMax, through an intermediary, to publish a post about EMAX tokens, a crypto asset offered by EthereumMax.
“Congress passed a law many decades ago called the Securities Act, and it was to protect the public,” Gensler told CNBC’s “Squawk Box” on Monday morning. “Part of that law said that if you tout a stock you have to disclose if you’re getting paid.”
Read the SEC’s settlement order here.
