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SEC charges Kim Kardashian for unlawful crypto promotion

Yahoo Finance Live’s Brad Smith reports that the SEC has charged Kim Kardashian for violating the anti-touting provision of federal securities laws.

Video transcript

[AUDIO LOGO]

BRAD SMITH: One last story before we head to break, the SEC is charging Kim Kardashian with violating the antitouting provision of federal securities laws. According to the SEC, Kardashian promoted a crypto asset offered by Ethereum Max on social media without disclosing the payment she got for the promotion. Kardashian agreed to settle the charges for $1.26 million, and said that she will be cooperating with the commission's ongoing investigation.