UK watchdog calls out Kardashian West’s Instagram crypto ad

LONDON (AP) — A British financial regulator, raising concern about the lack of rules for online promotion of cryptocurrencies, has called out celebrity influencer Kim Kardashian West’s use of her Instagram account to pitch Ethereum Max to her followers. The chairman of the U.K.’s Financial Conduct Authority said Kardashian West was recently paid to ask her 250 million Instagram followers to speculate on crypto tokens by “joining the Ethereum Max Community.” He noted Kardashian disclosed that the post was an ad, as required by Instagram’s rules. But Charles Randell said she didn’t have to disclose that Ethereum Max was a speculative digital token created a month before by unknown developers.