There aren't any laws that command the shopping for and merchandising of any social media accounts.
When a user signs up to Instagram, the terribly 1st clause within the ToS, outlines that the account holder is only answerable for all activities of his or her account which by mistreatment Instagram they agree that they're going to not assign, license, transfer or sell their account, username, followers and account rights to the other person.
Also, anyone, except businesses and folks WHO have the authority to make Instagram accounts for his or her staff, don't have the permission to make accounts for others.
So after you sign on for Instagram, you comply with not sell your account, however the violation of ToS isn't subject to any variety of legal violation.
Therefore, even though you act and sell your account, you may not be violating any legal codes.