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.
Despite the battle against the US SEC Kik will not shut down. It has been announced that Kik is going to struggle for its existence.
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 U.S. Securities and Exchange Commission is suing messenger app maker Kik for $100 million ICO for its Kin token which they think was an unregistered securities sale. The regulator appears to have built up a strong case in its initial court move.
Today Freewallet announces full support for Kin coin (KIN), which has finally migrated to its own blockchain.
After working for some months on two blockchains simultaneously, Kik has taken a decision to stop building on Ethereum and to work with Stellar only.
The Kin Foundation and kik creators have made a multi-million dollar bet. They will pay to 25 developers $3 million to create and maintain independent “kin economies” over a six-month period.
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.
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.