Why is Kik Challenging The SEC In Anticipated Crypto ICO Court Case? | NewsBTC

  • Yet, an up-and-coming watershed case could change ICO-issued tokens’ legal classification altogether.
  • According to an exclusive report from the Wall Street Journal, the Ontario, Canada-based social media giant, Kik, is looking into challenging the SEC over its 2017 KIN token offering.
  • If an American civil judge determines that Kik’s ICO wasn’t a securities offering, not only would the firm be safe from hefty fines and other stringent measures, but it could also aid dozens of other projects struggling under the SEC’s iron fist.
  • While the integration of such a bill would likely revitalize this industry, the Token Taxonomy Act is still months, if not years away from going live in the real world.

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