Benjamin Sauter on How Kik v SEC Could Change How the SEC Regulates Cryptocurrencies in Wired
June 5, 2019
Publication: Wired Magazine
Kobre & Kim’s Benjamin Sauter, who regularly represents clients in the digital currency sphere from blockchain developers to exchanges, discussed with Wired Magazine the implications that a civil lawsuit by the platform Kik against the United States Securities and Exchange Commission (SEC) could have on the cryptocurrency industry.
On June 4th, the SEC filed an official complaint against the platform, alleging that Kik’s ICO of its “kin” token was actually an illegal sale of securities. Impending litigation between the two entities would likely turn into an evaluation of kin’s current status as either a currency or an investment. “An interesting question for both sides is whether you actually want this decided by a judge or a jury,” noted Mr. Sauter.