SEC fines Kim Kardashian $1.26 million over Instagram post touting crypto. Still, over one-third of people rate online investing advice as ‘extremely important’
On Monday, the Securities and Exchange Commission announced it was imposing a $1.26 million fine on social-media influencer and businesswoman Kim Kardashian for touting a cryptocurrency without declaring how much she was paid for the ad.
— World Economic Forum online poll of 9,000 respondents Kardashian posted about EthereumMax and its EMAX tokens on her Instagram META feed, but she did not disclose a $250,000 payment from the issuers to publish the post, SEC regulators wrote in their decision on Monday. Others have come under scrutiny for unlawfully touting cryptocurrencies, SEC Chairman Gary Gensler said Monday in a CNBC interview. Count people like boxer Floyd Mayweather, hip-hop impresario DJ Khaled and actor Steven Seagal in those ranks, he said.
The World Economic Forum surveyed more than 9,000 people across nine countries to gain insights into the minds of retail investors and non-investors. Participants came from countries including the United States, various European countries, Brazil, South Africa, China and Japan. The World Economic Forum report suggests social media’s investing influence is more pronounced in emerging markets, like Brazil, South Africa and China. “More than 65% of investors in emerging markets ranked social media as extremely or moderately important in making investment decisions,” researchers said in the report, done in conjunction with Accenture ACN and BNY Mellon BK .
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kim Kardashian Pays $1.26M to Settle SEC Charges For Promoting EthereumMaxBREAKING: SECGov has charged KimKardashian for unlawfully touting EthereumMax without disclosing the payment she received. By OKnightCrypto
Read more »
Kim Kardashian Agrees To Pay $1.26 Million To Settle SEC Cryptocurrency Promotion ChargeAn SEC investigation found Kardashian had failed to disclose that she was being paid to promote a crypto token to her Instagram followers.
Read more »
Kim Kardashian pays over $1M to settle SEC charges related to crypto promo on InstagramThe SEC said Kim Kardashian failed to disclose that she was paid $250,000 to publish a post on her Instagram about EMAX tokens — a crypto asset security offered by EthereumMax.
Read more »
Kim Kardashian Will Pay SEC $1.26 Million Over Crypto Ad on InstagramThe billionaire promoted something called EthereumMax, which turned out to be worthless.
Read more »
Kim Kardashian charged by SEC over crypto asset security, agrees to pay $1.26 million fineThe SEC said Kardashian failed to disclose that she was paid $250,000 to publish a post on her Instagram account about EMAX tokens.
Read more »
Kim Kardashian settles with SEC over crypto promotionKim Kardashian has agreed to settle charges brought by the Securities and Exchange Commission and pay $1.26 million for promoting a cryptocurrency on social media without disclosing the payment she received to do so.
Read more »