Canadian social networking start - up Kik has said its dispute with the US Securities and Exchange regulator ( SEC ) is causing negative press that 's damaging the company . Founder investor Livingston told a Reddit Ask Me Anything blog that the dispute is endangering partnerships Kik is trying to strike , including one with a company with 60 million users . SEC is taking on the SEC in court after the regulator claimed a $ 100 m digital token sale the company engaged in during 2017 represented an unregistered security breach . Kik has been asked to repay the proceeds of the sale with interest .
Canadian social media start-up Kik has said its lawsuit with the US Securities and Exchange Commission (SEC) is causing negative press that's damaging the company. Founder Ted Livingston told a Reddit Ask Me Anything session that the dispute is endangering partnerships Kik is trying to strike, including one with a company with 60 million users. Kik is taking on the SEC in court after the regulator claimed a $100m digital token sale the company engaged in during 2017 represented an unregistered security offering. Kik has been asked to return the proceeds of the sale with interest.