Kim Kardashian’s ‘fake Ethereum’ ad from her social media account has sparked backlash in the UK and warnings about cryptocurrency fraud.
Charles Randell, Chairman of the British Financial Executive Authority (FCA), reacts to Kim Kardashian advertising ‘fake Ethereum’ (Ethereum Max) at a conference he attended in Cambridge.
“While we live most of our lives online, we cannot allow online trading to operate in ways that we would not tolerate in any other business, “Randell said.” Our activities include rules that protect people from investment fraud and scams.”
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Kardashian had advertised Ethereum Max in a post to her Instagram account, which has more than 200 million followers, in June. After harshly criticizing Kardashian’s sharing, Randell emphasized that Ethereum Max is not affiliated with Ethereum, the second most popular cryptocurrency in the world after Bitcoin.