Bloomberg Law
Sept. 6, 2021, 3:29 PM

Kardashian’s Instagram Crypto Plug Irks U.K. Finance Watchdog

Ellen Milligan
Ellen Milligan
Bloomberg News

Consumers risk being lured into the “cryptobubble with delusions of quick riches” by high-profile influencers such as Kim Kardashian, the U.K.’s financial regulator warned in a speech Monday.

Charles Randell, Chair of the Financial Conduct Authority, called for regulators to be given greater powers to protect consumers and said if people buy speculative crypto tokens “you should be prepared to lose all your money.” He pointed to Kardashian’s recent promotion of a speculative digital token.

“When she was recently paid to ask her 250 million Instagram followers to speculate on crypto tokens by ‘joining the Ethereum Max ...