Clayton’s SEC brought 56 cases since its July 25, 2017 DAO report first declared virtually all ICO tokens were securities. It added that the SEC stopped 18 suspected frauds involving blockchain, digital assets, or distributed ledger technology.
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Kik to pay $5M fine, ending two-year legal fight with SEC
Although the multimillion-dollar fine might seem like a slap on the wrist given that Kik held a $100 million ICO, legal expenses have had a toll on the company
The proposal comes three weeks after Hellerstein handed down a summary judgment finding that Kik’s $100 million ICO was an unregistered and illegal securities offering. He decided that the offering for Kin tokens had met the three-part Howey test, which assesses whether there is an investment of money in a common enterprise with profits to be derived solely from the efforts of others.
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Kik won’t get its day in court
The messaging app turned blockchain developer loses badly to the SEC after a summary judgement finds that 2017’s $100 million Kin ICO was an illegal, unregistered securities sale
In a devastating ruling, a federal judge handed down a summary judgement finding that Kik’s $100 million initial coin offering in 2017 was an unregistered and illegal securities offering.
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Online gaming platform with A-list investors killed by SEC
Ashton Kutcher and Mark Cuban were among the investors in Unikrn, which is paying a $6.1 million penalty that is ‘substantially all of the company’s assets’ and disabling its tokens
The U.S. Securities and Exchange Commission’s unrelenting crackdown on unregistered initial coin offerings has claimed another victim—this time, an online gaming and gambling platform that attracted a star-studded list of investors.
