the staff of the Ridgewood blog
Ridgewood NJ, Kim Kardashian has agreed to pay more than $1 million to settle SEC charges against her. Kardashian promoted a crypto asset on Instagram without disclosing that she was being paid for the promotion. She fully cooperated with the SEC to avoid a protracted dispute. The agreement allows Kardashian to move forward with her other business pursuits, but she will not be allowed to promote crypto securities for three years.
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Loathsome and lascivious
So…..you’ re saying it’s illegal to promote cryptocurrency without disclosing if you’re paid for it?
Correct.
Truth in Advertising laws require you to disclose that you are being compensated when you endorse a product or service – including, but not limited to cryptocurrency.