This week, following a report from the Wall Street Journal, the
CEO and founder of social media startup Kik published a blog post
providing details on Kik's interactions with the SEC following
the company's 2017 ICO, which reportedly raised approximately
$100 million. The blog post provided a link to the SEC's Wells
Notice explaining the SEC's position that the Kik ICO was a
sale of unregistered securities, and Kik's Wells Response
arguing that it did not violate the securities laws. In its Wells
Response, among other things, Kik argues that its Kin token is a
currency, not a security. Kik's Wells Response also indicates
that the company is willing to litigate the issue in court.
In South Korea this week, four major cryptocurrency exchanges
– Bithumb, Coinone, Korbit and Upbit – announced a
partnership to share information related to suspected money
laundering, including establishing a shared database of suspicious
wallet addresses. This comes on the heels of a report
