The social media company asserts it didn’t operate the sale of an unregistered security.
It’s been another productive week for the cryptocurrency space with activity and progress being shown across the globe.
The judge dismissed Kik’s plea, stating that it’s just a reargument of earlier facts with no new discovery
Kik argues the SEC’s definition of a security is vague, but the SEC has 70 years of jurisprudence on their hands.
Kin cryptocurrency caused the U.S. Securities and Exchange Commission to drop its hammer on the company, and the result was the company deciding to put all its resources into fighting the lawsuit.
Kik is prepared to do whatever it takes in its battle with the U.S. securities regulator over what it alleges are unfounded allegations regarding the launch of Kin cryptocurrency.
The future looks bleak for Kik, after the US Securities and Exchange Commission (SEC) targeted the messaging platform over claims that were extremely off base.
Mobile messaging app Kik has said it will fight an anticipated court battle against the U.S. Securities and Exchange Commission (SEC).