It seems that the Securities and Exchange Commission has finally found a way to keep up with the Kardashians. The US Markets regulator announced last week that Kim Kardashian had agreed to pay $1.26 million to settle allegations that she broke US rules by touting a crypto token. The SEC alleges Kardashian did not disclose that she was paid $250,000 to post on her Instagram account about EMAX token, a crypto asset offered by Ethereum Max.
Kardashian settled without admitting or denying the SEC allegations. And she agreed to refrain from touting any additional digital assets for three years.
But what are the broader implications of the SEC’s action? And is it a warning shot that stricter adherence to the rules is on the way?
Bloomberg crypto and regulation reporter Allyson Versprille and Bloomberg financial lifestyles and money culture reporter Misyrlena Egkolfopoulou join this episode.See omnystudio.com/listener for privacy information.