On Tuesday (June 4), the U.S. Securities and Exchange Commission (SEC) announced that it had filed a lawsuit against Kik Interactive Inc. for allegedly selling in 2017 its "Kin" token to U.S. investors without registering its offer and sale. Since the SEC claims that this is in direct violation of the registration requirements of Section 5 of the Securities Act of 1933, it is aiming for "a permanent injunction, disgorgement plus interest, and a penalty."
