Messaging app sued by US regulator over cryptocurrency launch

Messaging app sued by US regulator over cryptocurrency launch

A controversial messaging app is being sued by US regulators for raising capital through cryptocurrency sales. Kik, a Canadian firm, launched its digital currency Kin in 2017 at the height of the bitcoin boom, raising $98m (£77m) from 10,000 people. But the Securities and Exchange Commission says it did not register the sales to US investors, breaking securities laws.










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