The KIN token, released in 2017, is Kik Interactive Inc. commented on the actions of the US Securities and Exchange Commission (SEC), releasing a press release .
In response to the SEC's accusations of an unregistered securities issue, Kik CEO Ted Livingston said the following:
“We have been expecting this for quite a long time and welcome the opportunity to compete for the future of cryptocurrencies in the United States. We hope that this case will make it clear that the laws on securities should not be applied to the currency used by millions of people in dozens of applications. ”
According to Kik lawyers, the Commission’s charges are based on a false legal basis, while KIN tokens are mistakenly treated as investment contracts with signs of securities.
“The SEC’s charges against Kik are a highly selective and misleading statement of the facts and circumstances regarding the presale and the main ICO campaign of 2017. We look forward to the opportunity to provide comprehensive information in court, ”added Livingston.
Against the background of recent events, Coinbase and Circle, which is no longer on the list of partners, apparently refused to support the Kfe-initiated Defend Crypto Foundation;
However, Arrington XRP Capital was among the new Defend Crypto members.
Recall, the Defend Crypto Foundation , which was founded last month, is intended to cover legal costs during the proceedings with the SEC. The initial partners of the initiative were Coinbase, a startup Circle, a platform ShapeShift, an analytical portal Messari and a non-profit organization for the protection of the free Internet Fight for the Future.
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