Topic: KIK's Failure to Back Down has the SEC in a Catch 22 (Read 123 times)
If the SEC could sue KIK for illegally raising money via an ICOs,this could happen to any US based company that used ICO to raise funds back in the day.ICOs are becoming more and more obsolete every day.
https://www.sec.gov/news/press-release/2019-87
Well, the SEC has just gone official on this. I hope Kik have all their thingies in order. It seems like many will be watching what happens with this. If it's Kik vs the monolithic everything the odds may not be great.
Well, the SEC has just gone official on this. I hope Kik have all their thingies in order. It seems like many will be watching what happens with this. If it's Kik vs the monolithic everything the odds may not be great.
Kik seems to be making an awful lot of assumptions about SEC methods and motivations and second guessing what their attitude is going to be. That seems suicidal to me.
If the SEC not pursuing this sets a precedent then you can guarantee that they will pursue it. The SEC won't give a shit about making a few thousand people fall short a few grand each if it leaving them to it opens the floodgates for millions of people to wind up raped by other groups.
I don't know sod all about law but that's how it smells to me. Noodling around with wordings and terminology won't stop a freight train from flattening you.
If the SEC not pursuing this sets a precedent then you can guarantee that they will pursue it. The SEC won't give a shit about making a few thousand people fall short a few grand each if it leaving them to it opens the floodgates for millions of people to wind up raped by other groups.
I don't know sod all about law but that's how it smells to me. Noodling around with wordings and terminology won't stop a freight train from flattening you.
This is actually an interesting saga which I am sure will have a long lasting repercussions on similar cases in the future. I do appreciate that KIN took a strong stand against the classification made by SEC as selling securities rather than the usual tokens. The way I am seeing the case is that this time around SEC made a bad decision...and they should repeal the classification immediately. We should continue watching on this case so that SEC should know that there people watching on their every decision that can affect the cryptocurrency and related industry.
Hi all,
Have lurked these forums for awhile and just now created an account as I thought this would be a great platform to start to receive feedback from the community.
Here's writeup on the current status with KIK and the SEC... would love any thoughts/feedback!
https://www.linkedin.com/pulse/kiks-failure-back-down-has-sec-catch-22-josh-lawler/
https://medium.com/@JLawlerCal/kiks-failure-to-back-down-has-sec-in-catch-22-bd55dd6ac01a
-Josh Lawler
Have lurked these forums for awhile and just now created an account as I thought this would be a great platform to start to receive feedback from the community.
Here's writeup on the current status with KIK and the SEC... would love any thoughts/feedback!
https://www.linkedin.com/pulse/kiks-failure-back-down-has-sec-catch-22-josh-lawler/
https://medium.com/@JLawlerCal/kiks-failure-to-back-down-has-sec-in-catch-22-bd55dd6ac01a
-Josh Lawler
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