The US government announced today that celebrity Kim Kardashian will pay more than $1 million to settle a case involving cryptocurrency. The Securities and Exchange Commission said in a news release that Kardashian will pay $1.26 million in penalties and other fees over claims that she used her massive social media influence to hype a crypto asset security from EthereumMax without telling her fans that she was being paid to promote it.

Kardashian did not admit or deny any of the SEC's claims and is paying the $1.26 million to settle the case. She also agreed to not promote anything related to crypto for three years.

The SEC said Kardashian was paid $250,000 for an Instagram post publicizing EMAX tokens without properly disclosing that she was being paid for it. Kardashian has more than 330 million followers on Instagram, so her reach is genuinely massive.