Kim Kardashian’s Ethereum Max ad violated the SEC’s anti-touting provision By Cointelegraph

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Kim Kardashian’s Ethereum Max ad violated the SEC’s anti-touting provision

Cryptocurrency Oct 12, 2022 06:20PM ET

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Kim Kardashian’s Ethereum Max ad violated the SEC’s anti-touting provision

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In June 2021, Kim Kardashian published an Instagram story informing her approximately 330 million Instagram followers about the EthereumMax (EMAX) crypto token. The Securities and Exchange Commission (SEC) charged Kardashian, claiming she violated the anti-touting provision of the Securities Act when she failed to disclose she received $250,000 in exchange for her promotion of the unregistered security.

The charges incited a public debate — is the requirement to disclose the amount paid to promote an investment opportunity important?

Price of Ethereum Max from November 2021-October 2022. Source: CoinGecko

Gai Sher is senior counsel in the innovation and technology practice group and the corporate & business and entertainment & sports practice groups at Greenspoon Marder LLP. Originally from Israel, she attended Syracuse University for her undergraduate degrees before obtaining a Juris Doctor from Northeastern University’s School of Law.

Ariela Benchlouch is a law clerk in Greenspoon Marder's innovation & technology practice group. With a background and passion for entertainment law, music, fashion, media, and blockchain technology, she previously held legal intern roles at LAA Sports & Entertainment and PlayOne NFT.

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Kim Kardashian’s Ethereum Max ad violated the SEC’s anti-touting provision

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