Kik Interactive Inc., a messaging service, responded to the enforcement actions taken against it by the U.S. Securities and Exchange Commission [SEC]. In a press release, Chief Executive Officer of Kik, Ted Livingston, said that they had been expecting this and now, they “welcome the opportunity to fight for the future of crypto.”





The CEO further added,We hope this case will make it clear that the securities laws should not be applied to a currency used by millions of people in dozens of apps.”





Kin token was launched in 2017, and has been adopted by various apps since, with such apps being popular among people. Livingston claimed that by the time of the trial, Kin token would be the most widely used crypto in the world. He added that the SEC’s actions would stand as a challenge, but it would not impact the use, transferability, and characterization of Kin.





The company further defended itself by saying that the SEC’s complaint against it was “based on a flawed legal theory.” Eileen Lyon, Kik’s General Counsel, listed the issues with SEC’s complaint and how they used the Howey Test “beyond its definition.”

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