Kim Kardashian Penalized for Illegally Promoting Crypto Security
Kim Kardashian, who holds a celebrity status, has been taken to task, and e heavy penalty levied on her for going beyond the legal jurisdiction and promoting the crypto asset security, which is being provided and sold by EthereumMax, actively on social media. This grave charge leveled on her has been duly made by the Securities and Exchange Commission, which further stated that she had also not divulged the payout she received in exchange for her promotionally inclined activity.
As per the latest communique, Kim Kardashian has acknowledged the facts and situation and is ready to pay $1.26 million as the penalty amount attached and the interest accrued against the same. She has also committed to being fully cooperative where due process of the ongoing investigations of the commission is concerned.
The Securities and Exchange Commission’s investigation, which is currently in the stage of an ongoing process, is being ably carried out by the designated legal division of the Enforcement Division’s Crypto Assets and Cyber Unit, represented by Alison R Levine, Jon A Daniels, and Pamela Sawhney.
At the present moment, the official findings state that Kim Kardashian had illegally overstepped the boundaries laid down strictly by the law in her promotional activities and therefore was due to make the required payments, which amount to $1.26 million.
She is also to surrender and return the amount she received for her promotional activity, which amounts to $260,000, a pre-judgment accrued interest amount, and a penalty of $1 million. Her further indictment has been that she will not be permitted to endorse or promote any crypto asset security over the next three years. As per the concerned authorities, the laws set are the same for all, including celebrities.