Kim Kardashian will pay $1.26 million to SEC

In response to allegations that she improperly promoted a cryptocurrency without revealing she was being paid for the marketing, Kim Kardashian has agreed to pay $1.26 million as part of a settlement deal with the Securities and Exchange Commission.

According to the SEC, Kardashian is paying the settlement without acknowledging or disputing its conclusions. She also committed to refrain for three years from endorsing any crypto asset securities.

According to the agency, Kardashian will assist with its continuing inquiry.

A cryptocurrency by the name of EthereumMax, or EMAX, which was promoted to investors as a revolutionary new cryptocurrency, is associated with the fine. One of several famous people who exploited their notoriety to promote the cryptocurrency asset, Kardashian was the subject of a class-action lawsuit in January for her sponsorships.

There will be updates to this story as it develops.