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Kik Concedes to $5 Million SEC Penalty

2 mins
Updated by Kyle Baird
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In Brief

  • Kik Interactive Inc. has conceded to a $5 million civil penalty from the SEC.
  • The judgment classified the KIN ICO as an unregistered security sale.
  • The ruling opens the door to widespread SEC action against hundreds of ICOs that launched during the 2017/2018 ICO boom.
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David Hundeyin
David is a journalist, writer and broadcaster whose work has appeared on CNN, The Africa Report, The New Yorker Magazine and The Washington Post. His work as a satirist on 'The Other News,' Nigeria's answer to The Daily Show has featured in the New Yorker Magazine and in the Netflix documentary 'Larry Charles' Dangerous World of Comedy.' In 2018, he was nominated by the US State Department for the 2019 Edward Murrow program for journalists under the International Visitors Leadership...
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