Kim Kardashian has been charged by the US Securities and Exchange Commission for advertising EthereumMax on her Instagram page.

The reality-TV star had received $250,000 (£223,000) for advertising the cryptocurrency, without disclosing she had been paid to do so, the SEC said.

Ms Kardashian has agreed to pay $1.26m in penalties.

She has also agreed not to promote any crypto asset securities for three years.

Source:myjoyonline.com