Kim Kardashian

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Kim Kardashian faces SEC allegations for improperly promoting cryptocurrency on her Instagram account.

Celebrity Kim Kardashian has been charged by the top financial watchdog in the US for promoting a cryptocurrency.

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without mentioning that she was compensated for the marketing on her Instagram account.

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Kardashian did not confirm or reject the Securities and Exchange Commission's allegations, but the agency said on Monday that she had agreed to pay a $1 million punishment.

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She will also return $260,000, which includes the interest-bearing payment she received from the business.

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Kardashian, who follows 330 million people on Instagram,

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was compensated $250,000 to promote EMAX tokens, a cryptocurrency issued by EthereumMax.

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