We Must Fight SEC, - Kik CEO

Ted Livingstom also believes that crypto is a only tool to counteract an increasing concentration of wealth
26 September 2019   498

The founder of the Kik messenger, Ted Livingston, said that he was ready to defend Kin's own token with the US Securities and Exchange Commission (SEC), reports The Canadian Press.

We have to keep going. Until that’s it, we don’t have a dollar left, a person left. We will keep going no matter how hard it is.
 

Ted Livingston

CEO, Kik

Kik got involved in the SEC due to his initial coin offer (ICO) held in 2017. According to SEC, the company sold unregistered securities.

Livingston, for its part, states that Kin is being actively used to solve practical problems, and the defeat of Kik will mean that the existing legal system is not applicable to new financial technologies. He also claims that Kin is used in 60 different applications, while complaining that the SEC lawsuit has slowed the spread of cryptocurrency.

Cryptocurrencies are the only way, the only tool we have now that we can counteract that, [an increasing concentration of wealth] where we can build a new economy with a new form of money where we can rewrite the rules for how wealth and value is created in a global society.

Ted Livingston

CEO, Kik

According to Livingston, they will meet with the SEC in court in May 2020.

P. Durov Called to Testify in SEC vs Telegram Case

To testify, Durov will choose the date of January 7 or 8, 2020 and the address agreed by the participants in the process
26 November 2019   224

Telegram founder Pavel Durov and two company employees must come to testify during the current trial with the US Securities and Exchange Commission (SEC), CoinDesk writes referring to a document signed on November 25 by Judge Peter Kevin Castel of the New York Southern District Court. .

According to the document, to testify, Durov will choose the date of January 7 or 8, 2020 and the address agreed by the participants in the process. The main meeting at which the legal status of the Gram token will be decided is still scheduled for late February.

Also on December 16 in London, testimony should be given by Telegram Vice President Ilya Perekopsky, presumably responsible for contacts with investors during tokensales. The third person called to pre-testify on December 10 in London is Syam Pareh, a Telegram employee, whose name is indicated in the documents for investors.