How much does the encryption company have to entangle with the US SEC?

How much does the encryption company have to entangle with the US SEC?

Do you know how much it costs to get entangled with the SEC? According to foreign media Coindesk, the CEO of Canadian instant messaging startup Kik said in an interview that the company has spent more than $5 million to negotiate with the US SEC.

This is the case. At the beginning, the SEC stated that the token sale by Kik two years ago (Kik raised $97 million in the interaction) violated the securities laws and recommended that the company be forced in November 2018. After the measure. However, the SEC did not immediately take action against Kik, but first sent a "Wells Notice" to Kikj asking Kik to respond within 30 days. This also gave Kik a chance to breathe.

In an interview with The Wall Street Journal, Ted Livingston said that Kik has spent more than $5 million on negotiations with the SEC on this matter:

"We have spent a lot of time on this issue, and we have been rushing to Washington for the past 18 months."

In January of this year, the company also warned US regulators that it would oppose the proposed enforcement actions against it.

Last week, Amy Starr, director of the US Securities and Exchange Commission's (office) capital markets trends, said the SEC was willing to interact with local encryption and blockchain-related companies. Stahl believes that US securities laws are "flexible."

Author: Kiran
Remarks: Bitcoin86 manuscript article, please indicate the source. The article is an independent view of the author and does not represent the standing position.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

BTC prices are overvalued? What is the psychological price of institutional investors?

Although Bitcoin (BTC) has not yet returned to the upward trend with certainty, its performance in these days has bee...

Blockchain

German media: Germany is entering a "cryptocurrency paradise", new bill allows banks to sell cryptocurrencies such as Bitcoin

Cryptocurrencies may eventually go hand in hand with traditional currency services. Local media reports that from 202...

Blockchain

Bitcoin's transaction price has fallen below the average mining cost

This article Source: clouds block chain , Author: ack123888 Bitcoin has recently experienced its biggest one-day drop...

Blockchain

Ethereum co-founder Vitalik Buterin: BCH is not Bitcoin

According to Cointelegraph reported on February 2, Ethereum co-founder Vitalik Buterin stated in a recent tweet that ...

Blockchain

A story of a "Jesus" who initiated a 100-fold bet on Bitcoin and a preacher who advertised Bitcoin free of charge

According to CoinMarketCap data on September 6th, the market value of Bitcoin accounted for 71% of the total market v...

Blockchain

Every time PlusToken changes, the crypto market is stormy?

A butterfly in the tropical rainforest of the Amazon Basin in South America, occasionally flapping its wings, can cau...