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Void for vagueness

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SEC Blasts Kik’s ‘Void for Vagueness’ Defense of 2017 ICO

The Securities and Exchange Commission (SEC) said Kik’s August defense of its $100 million initial coin offering (ICO) was “untenable” and is asking judges to toss it. A discovery motion filed Monday further raised the stakes, following the SEC’s 49-page filing Friday – the latest play in a legal chess match with sweeping potential ramifications for tokens and securities law, and one seeking, more specifically, to determine whether Kik’s 2017 ICO was lawful. In Friday’s filing, …

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