Kik’s $100 million ICO for Kin cryptocurrency was “illegal,” says SEC

Kik’s $100 million ICO for Kin cryptocurrency was “illegal,” says SEC

The Securities and Exchange Commission has sued Kik Interactive, makers of the Kik messaging app, saying its $100 million initial coin offering violated securities laws. The Canada-based company launched its Kin digital tokens in 2017 near the height of the cryptocurrency boom, pulling in about $55 million from U.S.