NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Kin Appeals to Crypto Space for Help with Legal Fees to Fight SEC for Regulatory Clarity

Rick Delafont
Rick Delafont
4 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Kin, the cryptocurrency project launched by the firm behind the messaging application Kik, has asked the crypto asset space for donations to fund a potential legal battle with the US Securities and Exchange Commission. The firm is hoping that such a lawsuit will help to clarify the legal position of many digital currencies that were launched by initial coin offering (ICO).

Kin has already put up $5 million worth of crypto, comprising of their own tokens, along with Ether and Bitcoin. If the firm gets a ruling in its favour, the hope is that the regulatory body will be forced to come up with a new method of judging whether crypto tokens are to be deemed securities or not.

Could a Crypto-Specific Howey Test be Around the Corner?

According to Ted Livingston of both Kik and Kin, the lack of clarity surrounding crypto regulations is starting to seriously hinder both his own company and the industry at large. Since the popular messaging application Kik launched its own ICO in 2017, the firm has been left guessing as to whether or not its token would be deemed a security by the regulatory body.

Kin has been in a back-and-forth with the SEC for 18 months now. Following the ICO, the SEC stated that it intended to pursue an enforcement action against it. However, rather than simply settle away from court, as many firms targeted by the regulatory body have done previously, Kin responded by refuting the SEC allegation that the ICO it held in 2017 was an unlicensed securities offering.

The firm has received multiple subpeonas and a Wells Notice and, despite rising economic activity on the network – applications being developed and monthly users rising enough to make the project one of the most-used in all of crypto – the firm is still not sure whether its entire business model will fall to pieces if Kin tokens are deemed securities.

Kin itself has started the fund with $5 million and is calling on other “projects or individuals” to also donate. The fund is being hosted by Coinbase Custody and has the backing of several big names from the digital asset space, including Circle, ShapeShift, and Messari.

Livingston appeared on the Unchained Podcast to discuss the DefendCrypto idea earlier today.

Today on Unchained @ted_livingston spoke with @laurashin about the issues with the SEC and the desperate change we need to see to keep this industry thriving.https://t.co/6Ux203ESAw

— Kin Ecosystem ⬢ (@Kin_Ecosystem) May 28, 2019

There he stated that he does not feel that the current way of determining whether a digital asset should be subject to traditional securities laws is appropriate for crypto. For this reason, the DefendCrypto fund has been launched.

According to the project’s website:

“The SEC has been shaping the future of crypto behind the scenes with settlements that set a dangerous precedent and stifle innovation.”

Livingston stated on Unchained that he felt that if Kin won against the SEC, a new method to determine whether a crypto token was a security in the eyes of the law. would need to be devised. This would see the existing Howey Test replaced with something more appropriate to digital currencies.

However, don’t expect any of this to unfold anytime soon. Livingston thinks the battle is likely to take years, which is hugely detrimental to the US going forward since promising startups working in the space are likely to relocate to the likes of Switzerland or Malta, where regulations are much more favourable. He stated:

“Someone says, ‘Wow, Kin, great idea. Let’s do that everywhere — except in the United States.'”

 

Related Reading: Crypto is Rapidly Maturing: How Gemini is Legitimizing the Sector

Featured Image from Shutterstock.
Tweet123Share196ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Breaks Critical $2,800 Level — Can Bulls Hold For Major Rally?

Popular market analyst with X username Daan Crypto has provided an important insight into the Ethereum market, stating the altcoin...

Semilore Faleti 10 hours ago
Solana

Solana (SOL) Set For Price Run To $2,700 — But This Condition Must Hold

Solana (SOL) has registered a 0.58% loss in the past day, representing a slight price retracement from its strong weekly...

Semilore Faleti 13 hours ago
Bitcoin

Who Flipped The Switch? Bitcoin STHs Accumulate While LTHs Take Profit

Over the last month, Bitcoin ranged within the $100,000 — $110,000 price region until its recent breakout to reach a...

Opeyemi Sule 15 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Arthur Hayes預測怪獸級山寨幣風暴來襲!哪些冷門項目有望暴漲1000倍?

Mark Mak 39 minutes ago
Bitcoin

Bitcoin Stalls After Rally: Will It Blast Through $125,000 Or Slip Back To $110K?

Scott Matherson 6 hours ago
Bitcoin

Kiyosaki Awaits The Next Bitcoin Sale: ‘My Fellow Pigs And I Are Feasting’

Christian Encila 7 hours ago

Premium Sponsors

Press Releases

  • アルトコイン急騰の今買うべき仮想通貨プレセール

    ...

    9 hours ago
  • 仮想通貨おすすめ|強気市場で爆発的成長が見込まれる注目のミームトークン

    ...

    9 hours ago
  • BTC最高値更新の中で注目される新たなレイヤー2プロジェクトが狙う仮想通貨1000倍の可能性

    ...

    9 hours ago
  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    1 day ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.