SEC sues messaging app Kik for its $100 million cryptocurrency offering

SEC sues messaging app Kik for its $100 million cryptocurrency offering

The Securities and Exchange Commission has filed a $100 million lawsuit against Canadian social-media startup Kik Interactive for selling unregistered tokens in one of the most high-profile cryptocurrency crackdowns yet. The top financial watchdog in the U.S. accused Kik, which launched a digital currency to be traded within its messaging app, of conducting an illegal securities offering.