SEC sues messaging app Kik for its $100 million cryptocurrency offering

Published: June 26, 2019 | by Web Master

Scott Mlyn | CNBC

The Securities and Exchange Commission has filed a $100 million lawsuit against Canadian social-media startup Kik Interactive for selling unregistered tokens in one of the most high-profile cryptocurrency crackdowns yet.

The top financial watchdog in the U.S. accused Kik, which launched a digital currency to be traded within its messaging app, of conducting an illegal securities offering. The company’s “Kin” token brought in more than $100 million in its 2017 offering.”Companies do not face a binary choice between innovation and compliance with the federal securities laws,” Steven Peikin, co-director of the SEC’s Division of Enforcement, said in […]

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SEC sues messaging app Kik for its $100 million cryptocurrency offering

Published: June 26, 2019 | by Bitcoin Press News Team

Scott Mlyn | CNBC The Securities and Exchange Commission has filed a $100 million lawsuit against Canadian social-media startup Kik Interactive for selling unregistered tokens in one of the most high-profile cryptocurrency crackdowns yet. The top financial watchdog in the U.S. accused Kik, which launched a digital currency to […]

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