Kik responded to the SEC with a charge of misinterpreting securities laws …

Kik responds to SEC with misinterpretation of securities laws

Startup Kik, indicted by the SEC and exchanges USA (SEC) in the unregistered distribution of securities, issued a press release in which he commented on the actions of the regulator.

“We waited of this and welcome possibility fight for the future of the US crypto industry. We hope that this the case will make it clear that securities laws do not apply to currencies, which are used by millions of people in dozens of decentralized applications “, – stated CEO Kik Ted Livingston.

Kik responded to the SEC with a charge of misinterpreting securities laws ...

Kik chief attorney Eileen Lyon claims that accusations SEC are under construction on “Defective legal theory”, and the regulator’s interpretation of the Howey test goes beyond the original definition. SEC, in his queue claims that Kik employees considered token Kin as a get rich quick tool that is an sign of a security.

In response to numerous hateful comments from the SEC regarding Kik’s activities in a filed lawsuit, Livingston stated, that the department has significantly distorted “the picture of facts and circumstances in time presale in 2017 of the year and distribution of tokens “.

On the background the last events american crypto-company Coinbase and Circle silently withdrawn his support open Kik for the fight against the SEC to the Defend Crypto fund, and in quality new partner of the initiative was Arrington declared XRP Capital.

Fund assets, initially constituted more $ 5 million, after the recent decline market fell before $ 4.3 million.