Business
SEC versus Kik: SAFTs are far from safe – Cointelegraph
SEC v. Kik doesn’t have to be game-over for Kik or SAFTs. In fact, the decision is perhaps more favorable than the SEC v. Telegram order.
On the last day of September 2020, Judge Alvin K. Hellerstein dashed the hopes of Kik Interactive, crypto entrepreneurs and Simple Agreement for Future Tokens, or SAFT, proponents in general by ruling in favor of the U.S. Securities Exchange Commissions motion for summary judgment in SEC v. Kik Interactive.
The case was instigated by the SEC in June 2019 when the SEC filed an enforcement action against Kik Interactive Inc., (referred to in the complaint and here as Kik), a social media company…
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