Connect with us

Altcoins

SEC continues to divide and conquer the whole industry, says Kik CEO Ted Livingston

Priya

Published

on

'The SEC continues to divide and conquer the whole industry', says Kik CEO Ted Livingston
Source: Unsplash

Recently, Ted Livingston, the CEO of Kik, a Canadian-based messaging startup, shed light on the on-going case with the United States Securities and Exchanges Commission [SEC], in an interview with Ran NeuNer for CNBC Crypto Trader.

The discussion on the topic began by Livingston speaking about the first time the team was contacted by the United States regulatory authority. He stated that they first heard from the commission 3 days after the completion of their token sale, which was held over 18 months ago. He further stated that the initial interaction was a ‘friendly’ one, with the commission wanting to know more about what they were doing. He went on to state,

“Then, there were subpoenas and then testimony and finally they issued us what’s called the Wells notice, November last year. We issued our Wells response. We took both those things public in January and then finally we recently said what’s enough is enough, let’s go public. Let’s go to court.”

This was followed by the CEO speaking about whether they were expecting to be sued by the SEC. On this, Livingston stated that that they “weren’t sure”, adding that the one matter they were clear about was that the crypto-industry needed more regulatory clarity “one way or the other”.

He stated,

“we said to the SEC, ‘you’ve let us know that there’s infraction here. We’re going to tell the world that.’ So, one way or the other, you’re going to give us clarity here. Either you chose to go ahead or we’re going to fight this out in court and you back down and that in itself will be guidance.”

Further, Livingston was asked about their decision to go up against the commission. He stated that the commission originally had good intentions. However, he added that they have learned that the commission “continue[s] to divide and conquer the whole industry”, adding that everyone was “in this state of fear of what the SEC [would] think”.

He further stated

 “And at this point, this is having a real impact on our ability to compete on a global stage.”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

News

Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more

Jibin M George

Published

on

Crypto News – 26 June

Bitcoin breaches new resistances: In a sensational run that saw the coin surge by 15% over 24 hours, the world’s largest cryptocurrency breached the $12,000 mark, while also briefly touching the $13,000 mark, before falling again

Read more at https://bit.ly/2ZMkS10

Tone Vays on Bitcoin’s biggest strength: Tone Vays opined that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention

Read more at https://bit.ly/2RD2BjL

Tron Foundation launches new inititative: Justin Sun’s Tron Foundation announced a $20 million TRX buy-back plan to promote community activity and market stability

Read more at https://bit.ly/2X8aA9W

Joe Kernen on Bitcoin, Libra: The once crypto-skeptic, CNBC Squawk Box’s Joe Kernen is of the opinion that Libra is for corporations, while Bitcoin is for the people

Read more at https://bit.ly/31MkqSa

Bloomberg on JPM Coin: According to a report by Bloomberg, the Jaime Dimon-led institution plans to launch the JPM coin and use it for bond transactions

Read more at https://bit.ly/2X75DTr

Fundstrat report on stablecoins: According to a recent report by New York-based Fundstrat Global Advisors, the FS CryptoFX Stablecoin index fell by a whopping 21 percent against BTC, with Gemini outperforming Tether [USDT]

Read more at https://bit.ly/2X5qPJw

BitGo’s latest collaboration: Bitcoin IRA has announced that it will be teaming up with BitGo to launch crypto-retirement accounts insured for $100 million

Read more at https://bit.ly/31UvjBz

 





Subscribe to AMBCrypto’s Newsletter


Continue Reading