SEC sues Kik for US$100M for ‘illegal’ securities offering of digital tokens

SEC sues Kik for US$100M for ‘illegal’ securities offering of digital tokens | CBC News

The U.S. Securities and Exchange Commission has sued Ontario-based Kik Interactive Inc. for conducting an “illegal” US$100 million securities offering of digital tokens. The securities regulator said in a complaint filed Tuesday that the Kitchener-based company sold the tokens to U.S. investors in 2017 without registering their offer and sale, or providing proper disclosure, as required by U.S.