Kin launches DefendCrypto.org to fund $5 million opposition to SEC

In a new attempt to fight the U.S. Securities and Exchange Commission, Kin has launched a new fund, dubbed DefendCrypto.org. Kin, the crypto project led by messaging service Kik, has been in conflict with the SEC since 2017 when it launched a $100 million initial coin offering sale, which the SEC believes might have been an unregistered security issuance.

“The SEC has been shaping the future of crypto behind the scenes with settlements that set a dangerous precedent and stifle innovation,” Defend Crypto website reads. The company has put aside $5 million in preparation for a lawsuit and is now organising a fundraising campaign, addressing those “fed up with this innovation tax.”

Original source
https://www.theblockcrypto.com/tiny/kin-launches-defendcrypto-org-to-fund-5-million-opposition-to-sec/?utm_source=rss&utm_medium=rss&utm_campaign=default

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