Social Media Platform Kik Promises to Challenge Proposed SEC Enforcement Against Its ICO

Canada-based Kik is facing a prospective enforcement action over an alleged securities infraction after the U.S. Securities and Exchange Commission (SEC) judged its 2017 initial coin offering (ICO) to have involved the sale of unregistered securities.

The startup is reported to have raised around $100 million in “kin” tokens for its chat-based social media network — which can be earned on the platform, traded or redeemed for goods and services.

In a blog post published yesterday, Kik CEO and founder Ted Livingston stated that the startup was poised to fight
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