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ICO Legacy – U.S. SEC Obtains Final Judgment Against Kik and settles with $5 Mio fine

The U.S. SEC announced that a federal district court has entered a final judgment on consent against Kik Interactive Inc. (“Kik”) to resolve the SEC’s charges that Kik’s unregistered offering of digital “Kin” tokens in 2017 violated the federal securities laws. On the legal grounds of this final judgment the court approved a settlement between Canadian Kik and SEC. Under the settlement, Kik will pay a US$5 million penalty.