Canadian Startup Kik Plans to Fight a Legal Battle Against the SEC Over an ICO Case

  • Kik Interactive Inc., a social media startup based in Waterloo, Ontario is planning to fight the Securities and Exchange Commission (SEC) in court.
  • The startup’s 2017 initial coin offering is at the center of the controversy, as reported by the Wall Street Journal.
  • The enforcement division of the SEC believes that Kik’s initial coin offering for its crypto called “KIN” which brought in $100 million for the startup, was an unregistered security token.
  • The upcoming court battle could influence the future of digital currencies and the SEC’s authority to regulate them.

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