Lately, Ted Livingston, the CEO of Kik, a Canadian-based messaging startup, shed light on the Continuing Situation with the United States Securities and Exchanges Commission [SEC], in an interview with Ran NeuNer to Get CNBC Crypto Trader.
The conversation on the subject began by Livingston talking about the very first time that the group has been contacted by the USA regulatory authority. He said that they heard from the commission 3 times following the conclusion of the token sale, that was held more than 18 weeks ago. He stated that the first interaction was # & a 8216;# & friendly 8217; yet, together with the commission needing to find out more about exactly what they were doing. He went on to state,
“Subsequently there were subpoenas after which testimony and eventually they issued us what is known as the Wells note, November this past year. We issued our Wells answer. We took both these things people in January and then eventually we said what is enough , let us go people. Let us go to court. ”
This was followed closely by the CEO talking about if they had been anticipating to be sued by the SEC. On this, Livingston said that they #8220;weren’t certain ”, including that the 1 thing they had been clear about was that the crypto-industry desired more regulatory opinions “one way or another ”.
“we mentioned to the SEC, ‘you have let us understand that there is infraction here. We are going to inform the world which. ’ Thus, 1 way or another, you are likely to provide us clarity . Either you opted to proceed or we are going to fight this out in court and also down you and that alone will probably be advice. ”
Further, the Livingston was asked in their choice to move up from the commission. He said that the commission initially had great intentions. But he added they have learned the commission “last [s] to split and conquer the entire business ”, including that everybody was “within this condition of dread of what the SEC [would] believe ”.
“And in this time, this really is having a real effect on the capacity to compete on a worldwide stage. ”