In a contentious move, the Securities and Exchange Commission (SEC) recently sued Kik Interactive Inc. for its Initial Coin Offering of $100 million, alleging it violated securities laws by not registering the offering with the SEC.
The SEC alleges that the fundraising of $100 million was illegal because it did not provide proper disclosures to investors.
Kik has launched a crowdfunding site to help raise money to defend against the suit.
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