Linda Goldstein Says SEC Enforcement Action Made Example of Kim Kardashian

News / October 7, 2022

After Kim Kardashian touted EthereumMax (EMAX) on Instagram without disclosing she was a paid promoter, the Securities and Exchange Commission (SEC) brought an enforcement action against her. She settled with the SEC.

Partner Linda Goldstein was interviewed by Law360 for an Oct. 4, 2022, article titled “As Celebs Shill Crypto, SEC Aims To Be Ultimate Influencer.” In bringing its action against Kardashian, Goldstein told the publication, the SEC reinforced its position that a crypto token sold as an investment is a security under the Securities Exchange Act. The SEC also sent the message that it will “vigorously enforce securities laws requiring disclosure of paid endorsements of crypto tokens advertised as investment opportunities.”

Read the article.