SEC, Kik Agree To End Crypto Sale Saga With $5M Fine

Law360 (October 20, 2020, 10:41 PM EDT) -- Kik Interactive Inc. and the top U.S. securities regulator told a New York federal judge on Tuesday they've agreed to resolve a landmark enforcement case over Kik's digital coin offering with a $5 million fine.

The proposed judgment handed to U.S. District Judge Alvin K. Hellerstein would tie up the case that appeared to be in the U.S. Securities and Exchange Commission's hands late last month when Judge Hellerstein ruled that Kik's 2017 sale of $100 million worth of its own cryptocurrency, Kin, violated securities laws for having never been registered with the SEC.

The judge granted summary judgment in the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!