Kik CEO: ‘Buy today, sell tomorrow, profit’ — SEC: ‘Nope, that’s illegal’78

In a turn everyone should’ve seen coming, the US Securities and Exchange Commission (SEC) is suing messaging app Kik for its initial coin offering (ICO). In court documents released yesterday, the SEC outlined that Kik’s sale of one trillion “Kin” tokens was not registered with the SEC. As such, the SEC claims it is an “illegal securities offering of digital tokens.” From May to September 2017, Ki...

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