Federal Judge Rules that Kik’s 2017 Token Sale Violated US Securities Law
Before October 20, the parties have to file either a joint proposal for Kik’s investors, or a document with a proposal on how to proceed.
With the launch of its own virtual currency, the company aims to build an open and sustainable ecosystem of digital services to compete with established giants.
Before October 20, the parties have to file either a joint proposal for Kik’s investors, or a document with a proposal on how to proceed.
According to the SEC, the commission and Kik took a total of 11 depositions in the case. The twelfth deposition is scheduled for January 28, 2020.
CEO of the once-popular messaging app Kik has indicated that the firm will go to trial against the United States Securities and Exchange Commission of classification of their Cryptocurrency token Kin as a security.
Kik Interactive CEO Ted Livingston announced today that the company is shutting down Kik Messenger to focus on its cryptocurrency Kin, the target of a lawsuit filed by the Securities and Exchange Commission.
Kik kicked back at the SEC lawsuit that claims a $100 million ICO was illegal. The company behind Kik Messenger filed a response in U.S. District Court for the Southern District of New York, alleging that the SEC is “twisting” the facts about its token.
The aim is to push the mainstream adoption of kin tokens by integrating them with gaming SDKs and further using them for rewarding the developers.
The transfer of tokens across two blockchains will be done through atomic swaps. The Ethereum blockchain will be used for liquidity and the Stellar platform for transactions.
Popular messaging app Kik is moving its Kin tokens from the Ethereum network to the Stellar network sighting issues with speed, reliability and costs.
Mainstream chat app Kik raised nearly $100M for its new Kin token to be used by messenger’s 15 million audience as the primary transaction currency.
The beginning of Kin token distribution event (TDE) launched by the Canadian social media giant Kik Interactive, was announced yesterday on September 12. Having already raised $50 million in a presale round, Kik aims to raise $125 million in total through the ICO (initial coin offering).