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SEC Goes After Kik
Summary: The U.S. Securities and Exchange Commission (SEC) sued Kik the social network platform for $100 million. The SEC is accusing KIK of raising $100 million in an unregistered securities offering of digital tokens that could be used on a platform that didn’t yet exist. This initial coin offering (ICO) took place more than a year ...
The U.S. Securities and Exchange Commission (SEC) sued Kik the social network platform for $100 million. The SEC is accusing KIK of raising $100 million in an unregistered securities offering of digital tokens that could be used on a platform that didn’t yet exist. This initial coin offering (ICO) took place more than a year before the SEC released their guidance on what will be considered a compliant ICO.
