Canadian company Kik Interactive Inc plans to sue the U.S. Securities and Exchange Commission (SEC) in connection with a potential enforcement action against ICO Kin, which was held back in 2017. Kik CEO Ted LIVINGSTON told the Wall Street Journal about the upcoming legal confrontation and also wrote about it in his blog.
— the head of the company expressed his stance on the situation.
“This is the thing that everyone in the industry is dealing with, but nobody wants to talk about. For all of us to be able to continue hiring, innovating, and competing, we need to change that. This situation is not unique to Kik. There are dozens of projects at a similar point with the SEC. We all believe that this industry needs regulation, but we also believe that this is not the way to get it. ”
Representatives of Kik believe its rebuttal, which is to be filed in civil courts, is valid and could set a precedent for the whole ecosystem.
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