The SEC Goes to War with Kik over Kin Token Offering: Key Takeaways

The high-stakes legal battle feared by Kik, creators and backers of the kin token, has indeed materialized.

Per a June 4th filing with the United States District Court for the Southern District of New York, the U.S. Securities and Exchange Commission (SEC) is suing Kik over its 2017 initial coin offering (ICO) of kin, which raised $100 million USD. In the lawsuit, the watchdog argued that sale was an unregistered securities offering under U.S. federal law.

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