The KIN digital token may be considered a security, and has been causing trouble for the Kik company since the ICO in 2017. In the past few weeks, Kik admitted that the ICO landed it in hot waters, causing extraordinary expenses to communicate with the US Securities and Exchange Commission.
On the UnChained podcast, CEO of Kik, Ted Livingston, announced a fundraising project to take the SEC to court and demand a new Howey test for the KIN digital asset. The project raised $5.2 million in various cryptocurrencies so far, exceeding the goal.
“Enough is enough, we need clarity, and the only way we’re ...