Under Fire: Kik Is Gearing Up for a Fight With the SEC

Canadian-based social media startup Kik is gearing up to challenge a proposed enforcement action from the United States Securities Exchange Commission (SEC) over a fundraising initiative in 2017.

The American securities regulator believes that Kik’s Token Distribution Event (TDE) two years ago violated securities laws. The company raised $97 million during its fundraising phase, a princely sum for a platform that has garnered millions of users since its inception.

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