Kik Interactive responded angrily yesterday to a lawsuit by the U.S. Securities and Exchange Commission alleging its $100 million initial coin offering of the Kin cryptocurrency was illegal. The case is the SEC’s highest-profile action to date claiming that an ICO violated the law by selling an unregistered security to the public.
A week after the U.S. government’s inaction on cryptocurrency regulation drove Jeremy Allaire to move most of his company out of the U.S., the Circle chairman and CEO told congress why.
Gaming startup Pocketful of Quarters (PoQ) was issued a no-action letter by the SEC’s Division of Corporation Finance (DCF) on July 25 for its plan to sell Ethereum-based Quarters tokens. These tokens will be used as in-game currencies on gaming platforms, and will be transferable from one game to another, even across platforms.
Treasury Secretary Steven Mnuchin called cryptocurrencies a “national security issue” that threatens to enable drug dealers, human traffickers, and terrorists during a press conference Monday.