Kim Kardashian has found there is a price to be paid when influencers hawk investment opportunities like crypto to their adoring fans without disclosing they are getting paid to do so.

The Securities and Exchange Commission announced a $1.26 million settlement Monday morning with the celebrity for not disclosing she had been paid $250,000 to promote a crypto token sold by EthereumMax. …

“Ms. Kardashian’s case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investing in securities,” said Gary Gensler, the S.E.C. chair, in a statement announcing the settlement.