SEC sues crypto firm Kik over $100 million illegal ICO

SEC sues crypto firm Kik over $100 million illegal ICO

The US SEC has sued Canadian startup Kik for an unregistered $100 million token offering. According to the SEC’s complaint, Kik violated the registration requirements of Section 5 of the Securities Act of 1933. The agency is seeking a permanent injunction, disgorgement plus interest, and a penalty. The watchdog alleged that in late 2017, Kik’s offering was not compliant with US securities laws.

Timothy
Timothy
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