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WASHINGTON—Kim Kardashian will pay $1.26 million to settle regulatory allegations that she failed to disclose money she was paid for promoting a cryptocurrency to investors, the Securities and Exchange Commission said.

Ms. Kardashian should have revealed that she was paid when she promoted EMAX crypto tokens on her Instagram account, the SEC said. Her post contained a link to the token offerer’s website, which provided instructions for how to invest in EMAX, the SEC said.

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