What SEC’s Lawsuit Against Kik Teaches Us About Token Presale Agreements

Latham & Watkins LLP

Token pre-sale agreements are a popular type of financing instrument among start-ups in the blockchain space. Latham & Watkins attorneys explore the initial impact of SEC v. Kik on the use of token pre-sale agreements and discuss an approach the law firm developed to overcome challenges like the “single plan of financing” issue.

By now, many gallons of virtual ink have been spilled over SEC v. Kik Interactive Inc. (Kik). The SEC alleges that Kik conducted an illegal securities offering when it raised $100 million in its Kin token offering in September 2017.

Originally Published by The Bureau of National Affairs, Inc. on Aug. 29, 2019.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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