Telegram Crypto Ruling Casts Shadow Over Kik Case

Law360 (May 8, 2020, 5:21 PM EDT) -- A March decision halting Telegram's digital token offering could prove influential in a similar case brought by the U.S. Securities and Exchange Commission against Kik Interactive, despite notable differences in the facts underpinning the two suits, attorneys say.

One of the first major court decisions to impact the digital currency world came in an order penned by U.S. District Judge P. Kevin Castel of the Southern District of New York, who on March 24 granted an injunction to the SEC in its suit claiming Telegram Group Inc. was pursuing an unregistered securities offering.

The SEC went after Telegram and fellow messaging company...

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