JUST IN: Due to the unregistered JENNER meme currency, Caitlyn Jenner is being sued.

Caitlyn Jenner is facing a lawsuit over her involvement with the unregistered cryptocurrency token, “JENNER,” which was launched without proper regulatory compliance. The lawsuit, filed by a group of investors, alleges that Jenner, who is a well-known reality TV star and activist, used her celebrity status to promote the coin, which they claim was never registered with the U.S. Securities and Exchange Commission (SEC).

The token, introduced in 2023, was marketed as a way to capitalize on Jenner’s brand and personal influence. Investors were drawn in by the promises of rapid returns and the high-profile backing of the coin. However, the lawsuit contends that Jenner’s endorsement of the coin constituted a violation of U.S. securities laws, as it failed to undergo the necessary registration process for investment products.

The plaintiffs argue that the lack of registration made the coin a high-risk investment and that Jenner, as a prominent figure, should have ensured proper legal and regulatory procedures were followed. They seek damages and a full investigation into the origins of the token, as well as Jenner’s role in its promotion. Additionally, the lawsuit highlights the broader issue of celebrity endorsements in the cryptocurrency space, which has seen an uptick in regulatory scrutiny.

Caitlyn Jenner’s legal team has yet to respond publicly to the lawsuit, but it is expected that she will deny any wrongdoing, asserting that she was not directly involved in the technical aspects of the coin’s creation or its regulatory status. The case is set to be closely watched by both the cryptocurrency community and legal experts as it could set a precedent for how celebrity-backed tokens are treated under U.S. law.