Kim Kardashian to pay $1.26 mln over crypto charge

STORY: Kim Kardashian has been hit with a $1.26 million fine for unlawfully promoting a crypto token.

U.S. regulators say she had posted an ad about EthereumMax on her Instagram without disclosing she had been paid $250,000 to do so.

The social media post had a link to the EthereumMax website which had instructions for potential investors about how to buy the tokens.

Under U.S. law, people who tout a certain stock or crypto security need to make it clear they're getting paid, how much, the source, and the nature of those payments.

Regulators have been watching closely as digital assets have suffered wild swings this year, due to fears of recession, rising interest rates and geopolitical turmoil.

Kardashian has agreed to pay up without admitting or denying the commission's findings.

The influencer's lawyer said she's pleased to resolve the case and said that she fully cooperated with the SEC.