Kim Kardashian has agreed to pay a $1.26m (£1.12m) fine for advertising EthereumMax on her Instagram page.

The US Securities and Exchange Commission said the reality TV star had received $250,000 for advertising the cryptocurrency, without disclosing she had been paid to do so.

She also agreed not to promote crypto asset securities for three years. Her lawyer stated that Ms Kardashian is pleased to have resolved this matter with the SEC.”

Ms Kardashian, boxer Floyd Mayweather Jr, basketball player Paul Pierce and EthereumMax’s creators were sued by investors in January.