Kik Ruling Is A Step Toward Securities Law Clarity For Crypto
Law360 (November 12, 2020, 5:56 PM EST) -- Since its appearance on the world stage in 2009, blockchain-based cryptocurrency, or digital currency, has rapidly expanded, diversified and challenged the courts to classify it using the traditional categories of property to which the legal world is accustomed.
One question with which the courts have wrestled is whether and when cryptocurrency constitutes a security for the purposes of the Securities Act of 1933 or the Securities Exchange Act of 1934. The U.S. District Court for the Southern District of New York's recent decision in U.S. Securities and Exchange Commission v. Kik Interactive Inc. helps solidify the courts' approach to this question....
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