Promoting Crypto on Instagram? Disclosures Need More Than a Hashtag, Says Gensler

From decrypt.co

Promoting crypto online? You’re going to need a longer hashtag for that, says SEC Chairman Gary Gensler. Following the SEC’s charges against Kim Kardashian for promoting the EthereumMax (EMAX) token online, Gensler clarified the rules governing influencers promoting crypto online. The influencer was hit with a $1.26 million fine today for allegedly failing to disclose the $250,000 she was paid to publish the Instagram post shilling a cryptocurrency called EthereumMax. Gensler said today that though Kardashian used a hashtag under the post to clarify that the ad was paid for, it still fell afoul of SEC regulations ... (full story)