Partner Kayvan Sadeghi was quoted on the U.S. Securities and Exchange Commission’s (SEC) landmark suit against Kik Interactive, a Canadian messaging and cryptocurrency company, for allegedly conducting an illegal $100 million securities offering of digital tokens.
“The SEC v Kik Interactive case will be very closely followed and may set crucial precedent, but it is not an ideal test case for either side. From the industry perspective, it is not an ideal test case because Kik’s CEO made public statements that arguably support the allegation that the token is a security. But the case also does not paint the SEC in the best light, and the complaint’s hostile tone sends the wrong message,” Kayvan said.
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