One thing is for sure, the crypto industry is never boring. The Kin Foundation and Kik Interactive are bracing themselves for a major crypto confrontation with the US Securities and Exchange Commission (SEC).
Since their $100 million ICO in 2017, they've faced mounting SEC pressure to bring the Kin coin under compliance as a security. The Kin Foundation convincingly asserts that Kin Coin cannot be a security under the SEC's own rules. Yet another step was taken yesterday as the Kin Foundation announced a new partnership with Coinbase to set up a $5 million legal fund to help them take the SEC to court.
The SEC in court? And with big tech and major banks now buying into crypto, where could this all lead?
Find out everything you need to know to make your own determination. In the article below, I wrote about the background story of Kin/Kik for HedgeTrade. I included all the bad press and problems Kin/Kik has experienced and what is going on now with the Foundation. Also summarized for you are the main arguments that Kin Foundation is putting forth in their upcoming case against the SEC. Hope you enjoy the read!! https://hedgetrade.com/kin-coin-faces-off-against-sec/