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© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.Kim Kardashian fined $1 million by SEC over crypto promotion
By MICHELLE CHAPMAN and KEN SWEET NEW YORK©2024 GPlusMedia Inc.
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lostrune2
There's law in the US that if ya gonna shill in the financial markets, ya have to disclose if you're being paid and by how much
They can shill - they just have to publicly disclose
Wakarimasen
Poor Kimi. She was only trying to help her fans get rich like she has done.
Harry_Gatto
It's a pity that she can easily afford it, she should have been fined an amount that really does hurt.
Kenshin
Who cares.
Yrral
The feds generally investigate fraudulent behavior by website,that can harm a person monetary or healthwise,by issuing a cease and desist order,and the person , behind the illegal activity ,do not know they are target of an investigation ,until the Feds spring the trap,
theFu
There's a law in the US which says if you are paid to market anything, then do that marketing in an undisclosed way .... like using a personal post, then that is illegal. All she needed to do what say that anything she posts about on page X, Y, Z, could be because she is being paid by company X1, Y2, Z3. Not every post needs the disclaimer to be compliance with the law. Any website that uses affiliate links to market stuff does the same.
Crypto-currency is a "bigger fool" investment, like the Dutch tulip bubble in history.
There are great uses for crypto-currency in countries with bad currency polities and for everyone with specific, short-term, needs, but an investment it is not. Call it gambling and put less than 1% of your liquid holdings into it - nothing you don't expect to be worthless, just in case it gets stable and regulated to become a solid currency.
Beware that people pushing crypto-currency were likely giving a non-trivial amount of it, with a time period they aren't allowed to sell, so they have a strong interest in pumping the price before dumping it, just like the old pump-n-dump stock scam.
TokyoLiving
Excellent news !!..
Wel done SEC !!..
She is a phony, looooool !!..