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Kim Kardashian pays $1.26m over crypto ‘pump and dump’

Kim Kardashian has agreed to pay a $1.26m (£1.12m) fine for advertising EthereumMax on her Instagram page.

The US Securities and Exchange Commission said the reality TV star had received $250,000 for advertising the cryptocurrency, without disclosing she had been paid to do so.

She also agreed not to promote crypto asset securities for three years.

Her lawyer told BBC News: “Ms Kardashian is pleased to have resolved this matter with the SEC.”

The lawyer said: “Kardashian fully cooperated with the SEC from the very beginning and she remains willing to do whatever she can to assist the SEC in this matter.

“She wanted to get this matter behind her to avoid a protracted dispute.

“The agreement she reached with the SEC allows her to do that so that she can move forward with her many different business pursuits.”

Ms Kardashian, boxer Floyd Mayweather Jr, basketball player Paul Pierce and EthereumMax’s creators were sued by investors in January.