Kik will contest the potential SEC action against its ICO

The US Securities and Exchange Commission (SEC) has so far not met any pushback in its dubious and archaic effort to squeeze almost all digital asset schemes into the Procrustean bed of the securities regulation that dates back to the mid-20th century. This is about to change if the SEC decides to turn its sights on Kik’s KIN token, and Kik may thus render a significant service to a lot of crypto projects.

Specifically, Kik that raised about $100 million in its ICO promised to challenge the potential SEC’s enforcement in court. In their publicly available letter to the agency, Kik claimed that the SEC has mistakenly stretched the statutory definition of a security beyond the original regulatory intent.

https://cointelegraph.com/news/social-media-platform-kik-promises-to-challenge-proposed-sec-enforcement-against-its-ico

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